16. Tom Johnstone – The power of investing in your own personal balance sheet

In the first episode of this fall’s Ledarskapsresan, Ewa Kuszelewski is joined by Tom Johnstone CBE, experienced senior leader and chairman of the board.

During our discussion, Tom reflects on his personal development journey and why he chose to stay with SKF throughout his entire career, even when it meant moving sideways or even backwards to grow and develop. Tom refers to it as “creating and investing in your personal balance sheet” and highlights the importance to own the responsibility for doing it.

Tom discusses the tough decisions that sometimes need to be made and how to navigate these decisions with transparency and empathy.  He shares his thoughts on why it is essential to create psychological safety within the team and how continuous feedback can, and should, become a natural part of everyday life.

Tom also reflects on the challenges he experienced making the transition moving from CEO to the boardroom. He emphasises the importance of creating “the glue” of a strong culture and team- in the management team as well as in the boardroom –  and why simple and clear communication is crucial for success. He also touches on the importance of building trust through openness and transparency, as well as understanding and navigating cultural differences in international contexts.

We also touch on Tom´s views on Scottish independence and on the similarities rather than the differences between the Scottish and Swedish cultures!

Tom Johnstone CBE has had a long and distinguished career in Swedish industry. He has held several prominent roles at SKF, most recently as CEO and president. In addition to his operational roles, he has held numerous board positions at SKF, Electrolux, Teknikföretagen, and Volvo Cars, and has served as vice chairman of Wärtsilä and chairman of the British-Swedish Chamber of Commerce. Today, he is a board member at Investor and Northvolt and chairman of Collegial, Combient, Husqvarna, and Wärtsilä. Tom is also a member of the Royal Swedish Academy of Engineering Sciences (IVA).

(Comment: Standing for the Commander of the Order of the British Empire, a CBE is the highest ranking Order of the British Empire level (excluding a knighthood/damehood), followed by OBE and then MBE.)