Northvolt announces Jim Hagemann Snabe as new Chairman of the Board

Northvolt today announced the nomination of Jim Hageman Snabe as the new Chairman of the Board of Directors. Snabe is former CEO and Board Member of SAP, and is currently the Chairman of Siemens, Board Member of C3.ai, Member of the Board of Trustees of the World Economic Forum and Adjunct Professor at Copenhagen Business School.

The announcement is part of a long-term strategic initiative from Northvolt to build a more independent board with global industrial excellence. Carl-Erik Lagercrantz will continue as Vice Chairman of the Board, consisting of eight members.

Jim Hagemann Snabe comments: “I am honored to be joining Northvolt, a company that is emerging onto the global industrial scene with a very meaningful mission to help decarbonize the world. The company’s success will not only carry substantial environmental benefits onto its customers, but also provide a powerful demonstration of how we can respond with speed, scale and responsibility to tackle some of the most important challenges of our times."

Further strengthening the large-scale industrial competence of the Board is Barbara Frei-Spreiter, Executive Vice President Industrial Automation and Member of the Executive Committee at Schneider Electric. Frei-Spreiter has held multiple executive roles at ABB and is also a Member of the Board of Directors at Swisscom. Appointments are pending final shareholder approval.

Barbara Frei-Spreiter comments: “It is thrilling to join Northvolt at this phase of intense growth, and to contribute to its efforts as it delivers on commitments to some of the world’s leading automotive and industrial customers. I look forward to working with a team that has already accomplished so much and building on its momentum to guide the company towards reaching its full potential.”

Northvolt is currently delivering on its mission to produce the world’s greenest lithium-ion battery with a minimal CO2 footprint, utilizing at least 50 percent recycled material by 2030. The company has now scaled to more than 3,500 employees from over 110 nationalities. With production ongoing at Northvolt Labs and Northvolt Ett in Sweden, as well as at Northvolt Systems in Poland, the company has to date secured in excess of $55 billion worth of contracts from key customers, including BMW, Fluence, Scania, Volkswagen Group, Volvo Cars and Polestar.

About Northvolt

Northvolt is a European supplier of sustainable, high-quality battery cells and systems. Founded in 2016 to enable the European transition to a decarbonized future, the company has made swift progress on its mission to deliver the world’s greenest lithium-ion battery with a minimal CO2 footprint and has grown to over 3,500 people from over 110 different nationalities. Northvolt has to date secured more than $55 billion worth of contracts from key customers, including BMW, Fluence, Scania, Volkswagen, Volvo Cars and Polestar, to support its plans, which include establishing recycling capabilities to enable 50 percent of all its raw material requirements to be sourced from recycled batteries by 2030.