After leaving Craft last spring, Jonas Peterson will now step in as chief executive of another Swedish, company, 8848 Altitude. Peterson has been CEO of both Cross Sportswear and Craft where he received international experience that this supplier of ski, outdoor and bike clothing was looking for.

Peterson's task, in addition to being the general manager of the company, is to continue to develop the international business. 8848 Altitude is strong in Sweden, Finland and Austria, and has launched its own office in Germany. Named after the altitude of Mount Everest, the brand is sold in more than 600 stores in more than 20 countries.

Magnus Berggren, the owner of 8848 Altitude, had reportedly been thinking about stepping down from the CEO position for a few years to have more time for design and concept development as well as to get some new blood into the management team. Berggren founded the company in 1990.