Schwegler joined T-Venture in October 2000 and was initially responsible for the INI-Ventures Fund and research and analysis, before taking over the management of the new T-Com Venture Fund in 2004 and becoming chief executive a year later.

The deal is unusually personalised for a chief executive of a major company, with Schultz himself sitting on the board of Square.

Romanski previously worked at US-based bank JP Morgan.

San Francisco-based Reinemann is hopeful his role will significantly modernise the bank.

He joined Motorola four years ago from US-based semiconductor company Qualcomm.

Nordh recently took over the corporate venturing unit, as the latest step in his second career-spell at Saab.