Northvolt strengthens its Executive Management Team – creates new Chief Transformation Officer role and hires new talent to drive forward its long-term strategy

Northvolt today announced the appointment of Pia Aaltonen-Forsell as its new Chief Finance Officer, taking over from Alexander Hartman, who will take on the role of Chief Transformation Officer to lead Northvolt’s recently announced company strategic review. At the same time, Matthias Arleth joins the Executive Management Team in the role of President Cells. His focus will be on driving the execution of Northvolt’s growth strategy beginning with its first gigafactory in Skellefteå, Sweden, alongside taking responsibility for Northvolt’s battery cell technology R&D and production.

Most recently, Pia has been Chief Financial Officer of Outokumpu, a world leader in sustainable stainless steel production, a role she held since 2019. Prior to this, she was Executive Vice President and Chief Financial Officer of Ahlström-Munksjö and Munksjö. In addition to also serving as Chief Financial Officer of Vacon, Pia held various management and finance positions at Stora Enso.

Matthias joins Northvolt having served as SVP & GM Automotive EMEA at TE Connectivity, as well as in management roles at Volkswagen and executive roles at Magna and Webasto. Having spent over 25 years in senior leadership positions at various large global automotive industry enterprises, Matthias brings tremendous expertise in manufacturing into the Northvolt Cells Business Unit.

Both start at Northvolt during the first week of August 2024.

Peter Carlsson, CEO and Co-Founder of Northvolt, commented: “I am proud to welcome such great talent as Pia and Matthias into Northvolt’s Executive Management team. Together, they bring top-tier experience to us from global, large-scale manufacturing, industrial development and public markets companies, all of which will enable Northvolt to take the next steps on our journey.”

Carlsson continued: “Alexander has already played a crucial part in Northvolt’s success and laid the foundation for what is now the fastest growing battery company in the Western world, including through leadership of an exceptional team responsible for all Northvolt fundraising and financing workstreams to date. His vision and deep financial understanding have been instrumental to our success to date, and given his broad skillset, he is best positioned to take Northvolt through its next phase of transformation.” 

Pia Aaltonen-Forsell commented: “Having followed Northvolt’s impressive growth for many years, I’m energized to join its 6,000 employees on their mission to produce the world’s highest quality and greenest lithium-ion battery. I’m humbled by what the team has achieved so far, while confident that I can contribute to Northvolt’s continued growth at a time of significant strategic importance for independence in battery cell production.” 

Matthias Arleth commented: "Northvolt is a leader in sustainable batteries, with some of the best and highest quality products on the market. Transitioning from concept to mass production is a natural challenge in any industry, so I am looking forward to working with this dedicated and determined team to drive the company forward. Northvolt’s success is deeply important to the future of clean mobility."

Alexander Hartman commented: “Europe needs a strong, independent battery industry to deliver on the promise of a greener, more independent ecosystem for all and to secure the future of its automotive sector as an important key industry. This is a highly technical, capital-intensive industry, requiring the highest level of collaboration between government, customers, investors and the broader ecosystem.”

Tom Johnstone, Chairman of the Board, commented: “We have found world-class talent in Pia and Matthias as Northvolt continues to scale its operations. At the same time, Alexander’s leadership and experience will be invaluable at a critically important time for the company, for the industry, for government and for the wider ecosystem.”