Plans to build a battery manufacturing plant in Quebec are not in jeopardy, the company said.
Northvolt CEO Peter Carlsson, who has run the Swedish-based battery company since it was founded in 2016, announced his resignation on Friday.
According to a statement issued Friday morning, Carlsson will remain a chief advisor and member of the board of directors during a transition period, which is under way at the company.
Northvolt said it is entering a “new phase of sustainable growth and restructuring” to focus on “operational improvements and customer support.”
The statement quotes Carlsson as saying both he and the company are entering a new phase. He said seeking bankruptcy protection in the United States will allow the company to reorganize and “intensify its operations while honouring its commitments to clients and suppliers and ultimately position itself for the long term. So it is the right time for me to pass the baton to the next generation of leaders.”
Northvolt interim-CEO Tom Johnstone thanked Carlsson “for his vision and dedication in transforming Northvolt into an unprecedented idea and making it the European champion of battery manufacturing.”
The new management team will concentrate its efforts on sustainable growth as well as operational efficiency and innovation, the statement said, adding that the management changes will take effect immediately.