With a career spanning over sales in the insurance and banking sectors and 24 years in senior leadership roles at SKF, Tore Bertilsson has extensive experience in leading businesses, driving strategic initiatives, and managing change. As former CFO and Deputy CEO of SKF, his responsibilities extended beyond finance to include operational activities, acquisitions, purchasing, and strategy. Over the past twelve years, he has focused primarily on board and chairman roles, including at IKEA and in family-owned, private equity-backed and publicly listed companies with international operations.

Today, Tore combines board work with advisory assignments and believes that clarity, simplicity and a well-functioning relationship between the board and executive management are essential to success. We met with him to discuss leadership, board work and executive interim management as a tool for boards.

You have a broad background spanning over sales, banking and industry. Which experiences have shaped you most as a leader?

“It has been valuable to gain exposure to many different parts of the business world. I started in sales at Trygg-Hansa, where we were expected to go out and win our own customers. It was an excellent education in sales, but also in understanding people and what it takes to bring others along.

I then moved into the financial sector and subsequently joined SEB, taking on progressively greater responsibility for both customers and business operations. From the late 1980s onwards, I spent 24 years at SKF as CFO and Deputy CEO.

At SKF, my responsibilities also extended well beyond finance, covering operational activities, acquisitions, purchasing and strategy. It was a very valuable learning experience. When you are trusted with responsibility for different parts of a business, broadening your perspective comes naturally.

One of the most important lessons throughout my career is the need to be clear about what you want to achieve. When people genuinely understand what is expected of them, they are in a much better position to succeed.”

What does clear leadership mean to you?

“Clarity is enormously important. As a manager or leader, you need to be almost excessively clear about what you want to achieve and what you expect from the organisation. Sune Carlsson, who was CEO of SKF for several years, put it very well when we discussed leadership: If people simply understand what they are supposed to do, they will generally do it well.

But clarity also means follow-up and feedback. You need to monitor progress, provide feedback and make sure everyone understands whether they are on the right track.

I also believe strongly in simplicity. There is no need to make things unnecessarily complicated. This applies to both leadership and board work. When people understand what they need to do and what authority they have, things generally work well. Problems tend to arise when responsibilities become unclear, or expectations keep changing.”

You have extensive experience in board work. In your view, what characterises an effective board?

“The most important thing is to ensure that the company has a good CEO. Beyond that, it is about establishing a strong dialogue between the board and the CEO, with the chair naturally playing a particularly important role. I have seen how much a CEO can change a situation, which makes it essential to have a relationship that works well.

At the same time, the board must give the management the freedom to run the business. It is important to distinguish between the board’s responsibilities and those of executive management. The board should focus on matters that belong in the boardroom and leave the day-to-day running of the business to management.

Of course, the board must obtain the information it needs to understand what is happening in the company and how the business is performing. A fellow board member of mine once put it very aptly: “You should not stick your fingers into the business, but your nose.”

There may naturally be situations where the board needs to take a closer look at operations, but as a general principle, I think it is quite simple: have a good CEO, maintain a good dialogue and be clear about responsibilities and decision-making authority.”

You have experience in both executive leadership and board work. What do you bring from your operational background into the boardroom?

“Operational experience makes it easier to understand what is actually happening in a business. Discussing an issue at board level is one thing; seeing how it works when it has to be implemented throughout the organisation is quite another.

I believe it is important for the board to respect the complexity of operational work while maintaining its strategic perspective.

My experience across different parts of a business has also made it easier to ask the right questions. You do not need to get involved in running the business, but you should be able to challenge management and follow up constructively.”

Do you see executive interim management as an important tool for boards and executive teams?

“Absolutely. I would say that executive interim management is a tool to be used when the need arises. It should not be the default solution, but in the right circumstances, it can be an excellent one.

For example, it may be needed when someone leaves at short notice, when a company is going through a period of change, or when a particular function needs additional expertise for a limited period.

I have been involved in bringing in interim executives both during my time at SKF and in board contexts. For example, I have helped appoint an interim CFO, and that worked very well.

The important thing is that the person coming in understands the assignment and is prepared to take action. An interim executive may also be more willing to challenge the status quo than someone who expects to stay for many years. You need to be able to make decisions, drive change and say things that the organisation may not want to hear.”

What does an interim executive need in order to succeed?

“You need to understand the situation quickly and identify what actually needs to be done. There is rarely time to spend getting to know the organisation before you start taking action.

At the same time, you need to be receptive and attentive. It is not about coming in and changing everything simply for the sake of change, but about understanding the assignment and the results expected.

When time is critical, having access to the right expertise becomes particularly important. That is why it is valuable for boards and executive teams to have relationships with reputable executive interim management providers. When the need arises, you need to know whom to turn to and be able to bring in the right person quickly.”

What role can executive interim management play when a company is facing change?

“It can be extremely valuable when an organisation needs someone who can step in immediately to create stability or lead a specific change initiative.

This could be when a CFO or another key executive leaves, when a company is undergoing a reorganisation or when a particular area requires expertise that is not available internally.

In these situations, an experienced interim executive can bring both expertise and the ability to act from day one. The speed of deployment is often what makes executive interim management particularly relevant.”

Looking ahead, what will be the biggest challenges for boards and business leaders over the coming years?

“I think the fundamental principles remain the same as before, although everything is moving faster with each passing year. Unexpected things will always happen, and you need to be ready to act when circumstances change.

Geopolitics is naturally creating new uncertainties, and competition from China and other low-cost countries will continue to increase. AI will also affect a great many businesses.

At the end of the day, however, it comes down to the same fundamentals as always: having a good business idea and a clear plan, ensuring you have the right resources to execute it, and continuously monitoring your business and your competitors.

You have to stay alert. Competition can come from entirely new directions, and new players may be faster and more aggressive than you are used to. When the unexpected happens, you need to be ready to act. That is part of running a business, and it will never change.”

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