MUMBAI: Respected business leader Karl-Henrik Sundström, who took NXP Semiconductors to NASDAQ and was named best CFO in Europe has joined the Tracklib board as chairman. He will advise the Stockholm-based music platform and help enable its next phase of growth. Sundström has previously been involved in the company as an early investor, but will now take a more active role.

“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 has solved one of the music business’ toughest licensing challenges: sampling. Its platform allows musicians and producers to find tracks and stems for sampling, obtaining clearance nearly instantly via a simple licensing agreement process. It recently announced notable catalog additions, including a global deal with BMG to access their prestigious catalog and a deal with the estate of Isaac Hayes to release previously unheard songs, stems and multitrack on the Tracklib platform. Tracklib 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, Mr. 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 Karl-Henrik Sundström.