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STOCKHOLM - Automotive safety systems manufacturer Autoliv, Inc. (NYSE:ALV) (SSE:ALIVsdb), a company maintaining strong financial health with sufficient cash flows to cover its interest payments, announced Monday that Chief Financial Officer and Executive Vice President Fredrik Westin has resigned for personal reasons and will pursue a position in continental Europe.
Westin, who joined Autoliv in March 2020, will remain in his current position until December 31, 2025, unless otherwise agreed by the parties, according to a company press release. According to InvestingPro analysis, the company operates with a moderate debt level and maintains strong liquidity, with current assets exceeding short-term obligations.
"We sincerely thank Fredrik for his valuable contributions to Autoliv and the executive management team over the past five years which has been a particularly challenging period for the global automotive industry," said Mikael Bratt, President and CEO of Autoliv.
The company stated that the recruitment process for Westin’s successor will begin immediately.
Westin previously resided in continental Europe before joining the Swedish-American automotive safety supplier. During his tenure, he helped navigate the company through significant industry challenges.
Autoliv describes itself as the worldwide leader in automotive safety systems, developing and manufacturing products such as airbags, seatbelts, and steering wheels for major automotive manufacturers. The company operates in 25 countries with 65,000 employees and reported sales of $10.4 billion in 2024. InvestingPro data shows the company has maintained profitability over the last twelve months, with analysts projecting continued profitable operations this year.
In other recent news, Autoliv, Inc. has declared a quarterly dividend of 70 cents per share for the second quarter of 2025. This dividend will be distributed to shareholders of record as of May 21, 2025, with payments scheduled for June 10, 2025, for those holding common stock on the New York Stock Exchange. Meanwhile, holders of Swedish Depository Receipts on Nasdaq Stockholm will receive their payments on June 11, 2025. Autoliv’s operations extend across 25 countries, employing 65,000 people in the automotive safety sector. In 2024, the company reported sales of $10.4 billion, highlighting its significant market presence. The company is recognized for its contributions to safety, with its products credited for saving approximately 37,000 lives and preventing over 600,000 injuries in 2024. Autoliv continues to focus on innovation and quality, supported by 13 technical centers dedicated to research and development.
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