Candela CEO steps down, replacement named

Swedish electric vessel manufacturer Candela Technology AB has outlined a leadership transition, with founder and CEO Gustav Hasselskog stepping down after 11 years in the role and Sofia Graflund appointed as CEO. Hasselskog is set to become the firm’s executive chairman.

The change follows a board decision made on 7 April 2026 and is due to take effect at the AGM on 23 June 2026.

The company has moved beyond early-stage development, with vessels now in commercial passenger service and serial production established across several product lines. Demand is increasing in both public transport and private segments, with more than 65 orders recorded for the Candela P-12 ferry.

The firm recently raised €30m in a funding round to expand its production capacity, including the construction of a second manufacturing facility.

The Candela P-12 operates in public transport networks in Sweden and Norway. According to the company, its hydrofoil system reduces energy consumption by up to 80 per cent compared with conventional vessels. It is also designed to limit wake, support higher speeds in urban settings and reduce operating costs relative to diesel-powered vessels.

“Candela today stands on significantly firmer ground than in its early years,” says outgoing CEO 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 serves as chief strategy officer at Candela. Her previous roles include positions at EQT Ventures, Northvolt and Heart Aerospace.

“I’m delighted that Sofia has accepted this role. She brings strong analytical and operational capabilities, and has a deep understanding of Candela’s technology and culture. Her integrity and independence of thought will be important to lead the company into our next phase,” Hasselskog adds.

Graflund says: “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. 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.”

Hans Ahlinder, who has served as chair since the company’s founding, will remain executive chair until the AGM in June.

“This transition has been initiated with a long-term perspective,” Hasselskog says. “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.”