SKF’s Automotive business will now be known as SKF Vertevo and be a stand-alone company. This creates two independent businesses that can accelerate profitable growth and secure long-term value creation for customers, shareholders, and other stakeholders.
“The separation of our Automotive business is proceeding according to plan. Today marks another major step on this journey and on becoming a stand-alone company, as we reveal the name,” says Rickard Gustafson, president and CEO.
The SKF Automotive business is part of the SKF Group and a subsidiary of AB SKF. The name SKF Vertevo will publicly start to be used in conjunction with a potential listing.
“The name SKF Vertevo highlights our heritage and additionally combines two powerful ideas: vertere, Latin for ‘to turn’ or ‘to transform’, and evo, short for ‘evolution’. Together, they express movement, progress, and change. It’s short, bold, and memorable – a name that works across cultures and captures our story,” says Kerstin Enochsson, president Automotive.
