Susanna Campbell — From CEO at Ratos to Independent Investor
Name: Susanna Campbell
Currently: DHS Venture Partner, Industrial Advisor at Northvolt; Chairman Investment Committee at Norrsken Foundation; Chairman of the Board at Röhnisch Sportswear, Ljung & Sjöberg, and Babyshop Group; Non-executive Board Member at Indutrade.
Previously: Former CEO and Investment Director at Ratos; McKinsey & Co Consultant; Corporate Finance at Alfred Berg; and Non-executive Board Member at Telia. She holds a MSc in business from the Stockholm School of Economics.
After 20 years, Susanna has decided to embark on her own journey as angel investor, board member, and advisor. Now she’s bringing her expertise and experience to help startups in the beginning of their journeys.
What was a defining moment for you?
There have been a couple of defining moments. Starting at SSE was definitely one, because I started to meet really ambitious and successful people and entrepreneurs — so it was a real eye opener. It raised the bar in my eyes for what can be achieved and it was a big thing for me to believe in myself. A defining moment in my career was taking on the CEO role for a listed company. I learned so much in those years. Finally a defining moment now is choosing to be independent and be me. After having been employed for 20 years in different jobs, it’s a fairly big thing to do. It feels very freeing. I like working so I still work a lot, but it’s a different feeling. I wake up with a smile and think “another day that’s mine.”
I wake up with a smile and think “another day that’s mine.”
What inspires you?
Driven people who believe in something. I become very inspired meeting entrepreneurs at Norrsken or in the other roles I have — by people who have this idea or mission that they really want to accomplish and they stop at nothing to get there. I love being close to people like that. I’m working quite a lot with a company called Northvolt right now, where we’re wanting to become Europe’s leading battery manufacturer and R&D partner. The drive and ambition and vision of all the people there just makes me love being there because I love the energy.
What have been some of the biggest hurdles you’ve faced?
I’ve always been in jobs where you have to work extremely hard and the competition for senior roles is extremely hard. You could never lean back and relax. It got a bit lonely at times, because I had few peers close to me who were also women in the industry. That was one theme across many years. But I’ve also met very smart, strong women who I’m so proud to have in my network.
What has been your greatest failure in business/investing and what did you learn?
There’s heaps. Bad acquisitions, bad calls on people. It’s part of it. If you make decisions, you will make some bad ones and some good ones. If they were bad, then you try to make the best out of it and learn from it.
If you make decisions, you will make some bad ones and some good ones.
What do you like about working with finance and investments?
Sure it’s numbers and facts, but it’s so much more of a people business. It’s meeting and understanding people –– what drives them, their strengths and weaknesses. It’s very much a people thing, not just centered around excel.
What did you learn while leading Ratos?
I spent 13 and a half years at Ratos and I learned everything I know about investing and developing companies. I had the privilege of working with different senior people when I first joined, so I really got to see how more senior people than me did it. Haglöfs was one of my favorite portfolio companies that I worked with early on; it had a very strong management team and I was closely involved with their strategic development and in the end we got a great deal with Asics for a really good multiple. We tripled sales, doubled margins, and got a multiple expansion as well. The thing I’m most proud of in terms of personal successes is that I was part of building a very strong team and culture. They were smart and driven people, many of them women, who also had very strong values. That was the achievement I was proudest of as a leader.
They were smart and driven people, many of them women, who also had very strong values. That was the achievement I was proudest of as a leader.
Finally, what’s your best piece of advice for people wanting to get into what you do?
Make sure you have fairly broad experience before you do. Everyday I am very grateful that I worked for 20 years before I embarked on my own, because I saw so many companies, situations, leadership styles, and challenges. I feel like I’ve seen so many difficult things happen that nothing scares me anymore. I’m grateful for long and broad exposure, so I would say make sure you get a bunch of that — it’s not an exact number of years.
