OXE Marine Announces Leadership Change

OXE Marine's board of directors has appointed board member Magnus Grönborg as CEO as part of a management team reorganization that includes current CEO Myron Mahendra shifting to EVP Business Development, Sales and Marketing. In addition, the chairman of the board Anders Berg will assume an operational role with the management team. Grönborg will replace Mahendra as CEO in the coming months, with the closer date yet to be agreed.

The management shuffle comes as the diesel outboard engine manufacturer moves into its next phase of its development, with third party production facilities in both Poland and the U.S., the company said.

Ängelholm-based Grönborg is currently Senior Vice President Operations at Höganäs AB and has been a board member in the company since 2019. He has more than 20 years’ experience of developing production and supply chains in global organizations like Lindab, Swep and Isover and has an executive background with notable positions as Group Operations Director at Lindab AB and most recently Senior Vice President Operations at Höganäs AB.

"I’m very pleased to welcome Magnus Grönborg as our new CEO, to lead the company through the imminent ramp-up of production in two continents. With his excellent leadership skills, I’m confident that Magnus will ensure strong execution of OXE’s strategy to supply the most durable outboard on the market," said Anders Berg, Chairman of the board. "At the same time, I want to emphasize the board’s deep appreciation of Myron Mahendra’s contributions as CEO over the recent years, which have been instrumental in taking the company to where it is today. In his new role, Myron will have the focus to further develop the company’s relationships and position on the market, which will be key to our continued growth."