In his new role, Lagercrantz succeeds Sven Lindskog, who previously announced his decision to step down from his role by the summer of 2023.
Nina Jönsson, CEO of ICA Gruppen, commented, "Fredrik has solid CFO experience from various sectors as well as experience running businesses with a commercial focus.
"An important part of his work going forward will involve leading cooperation between all parts of the organisation, as well as with boards of directors. Fredrik has the leadership qualities required to lead the finance function at ICA Gruppen."
'An Experienced Professional'
Lagercrantz is an experienced professional, who most recently stepped in as the chief financial officer of Attendo, a company offering care services for the elderly and people with special needs.
Prior to this, he worked with Swedish Match for eight years.
Commenting on his new role, Lagercrantz said, "I have long been interested in the retail sector, and from the outside, I have been able to see how successful the ICA model has been and is today.
"I now hope to be able to use my experience and knowledge to help further strengthen this model and the customer offering, in a partly new phase of ICA’s development and a turbulent world around us. I am eagerly looking forward to participating in and contributing to ICA’s continued development."