Corporate Governance Report

Chapter in PDF

Significant events during 2013

  • In January, AB Volvo signed an agreement with the Chinese vehicle manufacturer Dongfeng Motor Group Company Limited (DFG) to acquire 45 percent of a new subsidiary of DFG, Dongfeng Commercial Vehicles (DFCV), which will include the major part of DFG’s medium- and heavy-duty commercial vehicles business.
  • During 2013, the Volvo Group continued the renewal of its truck products ranges within Volvo Trucks, Renault Trucks, UD Trucks and VE Commercial Vehicles Ltd.

  • In October, the Board of Directors visited the Group's businesses in China and also plants within DFCV's businesses in China.

  • In September, a comprehensive Group-wide efficiency program linked to the strategies was announced. The program encompasses both reduction of white collar employees and consultants and efficiency enhancements in the global industrial system

  • In December, the Volvo Group decided to sell Volvo Rents to the US private equity firm Platinum Equity.