SWEDEN - Marianne Dicander Alexandersson has been appointed chief executive of Swedish buffer fund AP6 after a six-month search to replace Erling Gustafsson.

In May, AP6 announced Gustafsson would resign after 10 years in the role.

He originally aimed to stay on until a replacement had been found, but chief financial officer Adam Lauren was later appointed interim chief executive.

Alexandersson has spent much of her working life employed in the pharmaceuticals sector and is currently vice-president of retailer Apoteket, the state-owned company that previously held the monopoly for the sale of medication in Sweden.

She has previously been chief executive of Kronas Droghandel and worked for car manufacturer Volvo and ICI Pharmaceuticals.

Lennart Jeansson, chairman at AP6, welcomed her broad industrial experience and praised her leadership and extensive commercial experience.

Other recent appointments at the fund include Jan Kvarnström, who became vice-chairman in June. Kvarnström has worked at Dresdner Bank and as an advisor for 3i, which owns Kronas Droghandel.

Earlier this year, the Swedish government criticised the performance of AP6, as well as AP1 through AP4, saying that while the performance of the five buffer funds was explicable, it was unsatisfactory.

All five funds held SEK827.1bn (€85.6bn) in assets as at the end of 2009.