STOCKHOLM, Nov 4 (Reuters) – Automotive know-how group Veoneer has appointed firm veteran Ray Pekar as its new Chief Monetary Officer, changing Mats Backman, who will depart the corporate in March “to hunt new alternatives”, Veoneer mentioned in a press release.

Pekar turned Vice President Enterprise Improvement and Investor Relations for Veoneer, a maker of radars, imaginative and prescient techniques and driver-assistance software program when it was spun off from Autoliv in 2018. He joined Autoliv in 1996.

“Veoneer is now able to enter a brand new part, and that is the correct time for me to take the subsequent step,” Backman mentioned in a press release. (Reporting by Johannes Hellstrom; enhancing by Niklas Pollard)