Saab announces new Nautics business area

STOCKHOLM, Sweden, Oct. 26 (UPI) -- Saab on Tuesday announced changes to the company's organization and group management, including a new naval business area named Nautics.

The changes will take effect on Jan. 1, the company said in a statement.

Saab Kockums, which oversees naval technology, will become its own business area and be re-dubbed Nautics.

Saab Kockums CEO Gunnar Wieslander will head the new business area and remain CEO of Kockums.

In other changes to group management, current head of business area surveillance Micael Johansson was named the new deputy CEO and executive vice president.

Johansson replaces Lennart Sindahl, who will become senior adviser to the CEO and will leave group management.

A replacement for Johansson in the surveillance area will be recruited, Saab said.

The changes came the same week that Saab reported a 15 percent increase in sales for the first nine months of the year, to $2.8 billion.

Saab attributes the increase largely to the Gripen fighter jet program, a 2015 GlobalEye surveillance order, as well as the development of the A26 submarine, among other sales.