The music sampling service company Tracklib said that it has appointed former NXP Semiconductors chief financial officer (CFO) Karl-Henrik Sundström to its board as chairman.
In this role, Sundström will advise the Stockholm-based music platform and help enable its next phase of growth. Sundström has previously been involved in the Tracklib as an early investor, but will now take a more active role, said the company.
“We’re excited to have Karl-Henrik join and lead our board,” says Tracklib CEO Pär Almqvist. “His business expertise in a wide range of industries will prove invaluable as Tracklib matures as a company.”
Tracklib platform allows musicians and producers to find tracks and stems for sampling, obtaining clearance nearly instantly via a simple licensing agreement process. The company claimed that its samples have appeared in many charting hits, including tracks by DJ Khaled, Mary J Blige, J.Cole, Young MA, and BROCKHAMPTON.
Sundström is a member of the board of Mölnlycke and tech hardware manufacturers NXP, chairman of the tax delegation for Swedish Business and Commerce, and member of the board of the Marcus Wallenberg Foundation.
He was CEO of Stora Enso, a major European paper corporation, from 2014-2019. He joined Stora Enso in August 2012 as CFO and member of the Group Leadership Team. In June 2013 he took on the role as Executive Vice President for division Paper and Wood Products. Prior to joining Stora Enso, Sundström held the role as CFO of NXP Semiconductors 2008–2012. Before that, he held several managerial positions in Ericsson, including CFO.
“I am eager to work with Tracklib’s board and advisors to help bring another Swedish startup with clear international potential to its next stage.” says Sundström.