Industri Kapital CEO becomes executive chairman

The European buyout firm’s chief executive, Björn Savén, has become executive chairman.

Björn Savén, the chairman and chief executive of Industri Kapital since its 1989 founding, has taken the title of executive chairman and relinquished his CEO position.

He will, however, continue to manage Industri Kapital, along with managing partners Detlef Dinsel, Christopher Masek, Michael Rosenlew and Gustav Öhman, the firm said.

Savén, Öhman and Rosenlew are based in the firm’s Stockholm office, while Masek is based in London and Dinsel in Hamburg.

The European mid-market firm closed its latest fund on €1.675 billion in October 2007, nearly doubling the size of its previous fund.