Strategic Leadership Shift

Chairman Anders Borg described Menckel as “the right person” to build on LKAB’s strong position, thanks to his industrial track record and board experience at major firms like Saab AB and Securitas AB. At 54, Menckel is seen as a leader who understands complex European supply chains, advanced technology, and sustainability.

“I’m grateful to lead LKAB in these times,” Menckel says. “LKAB isn’t just an engine for northern Sweden, it can help Europe meet the climate threat and boost self‑sufficiency in key materials.”

Jan Moström’s Legacy & Next Phase

Under Moström, LKAB launched its fossil‑free HYBRIT sponge iron project, pioneered recovery of rare earth metals and phosphorus from mine waste, and reshaped Kiruna and Gällivare to enable future mining. The next chapter will see Menckel balance record investments, over €30 billion by mid‑century, while meeting rising global demand for low‑carbon steel.

“The years ahead are crucial,” says Borg, “where production stability and profitability must go hand in hand with new products like sponge iron and critical minerals.”

European Decarbonisation & Supply Security

LKAB’s transformation isn’t only national. Its fossil‑free sponge iron aims to decarbonise Europe’s steel industry, while rare earth projects could ease EU reliance on imports for electric vehicles, wind turbines and electronics.

Menckel’s arrival is timed as Europe pushes industrial resilience, and as LKAB’s urban relocation of parts of Kiruna & Gällivare enters decisive stages.

Who Is Johan Menckel?

Menckel holds a Master’s from KTH Royal Institute of Technology, is married with four children, and will work from LKAB’s Luleå head office. With leadership experience across metals, advanced manufacturing and investment, he is expected to blend operational discipline with long‑term green innovation.

Key Takeaways:

• Johan Menckel to become LKAB CEO in 2026; follows Jan Moström’s decade of transformation.

• Focus areas: fossil‑free HYBRIT sponge iron, rare earth metals, phosphorus recovery.

• LKAB aims to cut carbon, secure critical raw materials & strengthen EU supply chains.

• Menckel’s industrial background aligns with LKAB’s €30+ billion future investment path.