Northvolt has announced that its founder and CEO, Peter Carlsson, is stepping aside as the company initiates a Chapter 11 reorganization. Carlsson will continue to contribute to Northvolt as a Member of the Board and as a Senior Advisor.
The Chapter 11 filing is intended to provide Northvolt with the necessary financing to focus on operational improvements and customer support while allowing for restructuring and fundraising efforts to secure a competitive long-term position. The company emphasizes that this move will enable it to honor commitments to customers and suppliers during the reorganization process.
Peter Carlsson co-founded Northvolt in 2016 with the mission to drive sustainable energy solutions through pioneering European battery production. Under his leadership, Northvolt Ett became the first large-scale European battery gigafactory delivering products to customers. Northvolt Labs emerged as a central hub for European battery research and development, achieving technical breakthroughs and leading in patent creation. The company is also developing facilities in Heide, Germany, and Montreal, Canada, to support new industries in Western economies.
“Today marks a significant new phase for Northvolt and for me personally,” Carlsson commented. “The Chapter 11 filing allows the company to reorganize and ramp up operations while honoring customer and supplier commitments, ultimately positioning itself for the long term. This makes it an appropriate time for me to hand over to the next generation of leaders.”
Tom Johnstone, Northvolt’s Interim Chairman of the Board of Directors, expressed gratitude for Carlsson’s contributions: “We are incredibly thankful to Peter for his vision and dedication in building Northvolt from an unprecedented idea into Europe’s battery manufacturing champion. His perspective will continue to benefit Northvolt as a Senior Advisor and Member of the Board, while the new leadership steers the company into the next stage.”
The company’s leadership will now include Pia Aaltonen-Forsell, Chief Financial Officer, and Matthias Arleth, who will transition from President of Cells to Chief Operations Officer. Supported by Scott Millar as Chief Restructuring Officer, they will jointly lead Northvolt. The search for a new CEO has been initiated.
“I am very pleased that these recent additions to Northvolt’s leadership will jointly lead this next phase of operational improvement, increased customer focus, and financial restructuring,” added Johnstone.
Source: Northvolt
