Candela announces CEO transition

Gustav Hasselskog and new CEO Sofia Graflund. (Photo: Candela)

Candela Technology AB, a manufacturer of electric hydrofoil vessels, has begun a planned leadership transition. After more than 11 years as CEO, founder Gustav Hasselskog, along with the Board of Directors, has appointed Sofia Graflund as new Chief Executive Officer. Hasselskog will assume the role of executive chairman. The transition is expected to take effect in connection with the annual general meeting on June 23.

As a company, Candela has moved from early-stage development into a more mature phase. It has vessels in commercial passenger operation, serial production is established for multiple product lines and demand is growing across public transport and private markets globally. The company said it has more than 65 orders for its P-12 ferry.

“It’s a great honour to lead the team that effectively has invented electric hydrofoil technology, proven its success in demanding public transport, and brought three generations of vessels into serial production,” said Graflund. “Candela has established strong commercial traction and emerged as a market leader in electric waterborne transport. We’re now entering our next growth phase on a market valued at multiple billions globally, where we see demand for at least 5,000 vessels per year in the long term.”

The company said the ferry has been declared a success in Swedish and Norwegian public transport, as its hydrofoil technology has cut energy usage by up to 80% compared with conventional vessels. The focus is now broadening from product development and technology validation to include scaling production, strengthening commercial operations, and executing consistently across geographies.

Candela P-12 hydrofoil (Photo: Candela)

“Candela today stands on significantly firmer ground than in its early years,” said Hasselskog. “With many of the core technological and product-related uncertainties resolved, the company is now entering a phase where operational execution and systematic scaling become increasingly central. I believe this is the right moment for a transition in leadership, aligned with the company’s next phase of expansion.”

Graflund, currently chief strategy officer at Candela, has worked closely with the organisation in recent months and brings an understanding of its operations, strategy and growth agenda.

Prior to joining Candela, she worked at EQT Ventures and held senior roles at Northvolt and Heart Aerospace, gaining experience in scaling advanced technology and industrial companies.

Subject to approval at the annual general meeting in June, Hasselskog is proposed to assume the role of executive chairman. In this capacity, he will focus on external engagement with customers, partners, investors and policymakers, while also supporting product strategy and innovation.

Hans Ahlinder, who has served as chairman since the company’s founding, will continue in his role until the annual general meeting.

“This transition has been initiated with a long-term perspective,” Hasselskog said. “I am confident it positions Candela well for the very exciting journey ahead and to deliver on our mission to accelerate the transition to fossil fuel-free waterways.”