Tomorrow Richard Jägrud, 44, is starting as the new chief executive of Silva Group AB, the Swedish supplier of compasses and headlamps, taking the place being left vacant by Patrik Elfwing, who announced his resignation in the spring. Jägrud comes from another Swedish outdoor company, Haglöfs Scandinavia, where he acted as joint interim CEO for seven months until the appointment of Peter Fabrin as the CEO at the end of 2014.
Formerly involved in purchasing and sales at Nike, Sportmarket AB and Team Sportia, he has served at Häglofs since 2005 in various roles, ending up as product manager. Elfwing has apparently done many good things for Silva, especially on the product side, since he joined it four years ago following its takeover by an investment fund, Karnell, from Fiskars, which owns the Gerber brand of outdoor knives.
Silva is growing nicely, with a turnover projected to reach a level of about 125 million Swedish kronor (€13.0m-$14.6m) this year, but it has potential for a stronger presence in two neighboring markets, Denmark and Finland, and other important markets such as Germany or the U.S. Silva is performing well in Sweden, Norway and the U.K. Furthermore, the product offer can be further clarified and the brand can be strengthened.