Changes in Volvo Group Executive Committee

Volvo’s CFO Pär Östberg is assuming responsibility for the Group’s Asian truck operations in conjunction with the retirement of Jorma Halonen on April 1, 2008. Halonen’s other duties will be distributed among the other members of the Group Executive Committee. A new CFO to succeed Pär Östberg will be appointed during the first quarter 2008.

Paul Vikner, currently President and CEO of Volvo’s American subsidiary Mack Trucks, will leave his position on April 1, 2008. He will be succeeded by Dennis Slagle, currently head of Volvo Construction Equipment’s operations in North America, who will also become a new member of Volvo’s Group Executive Committee.

On December 1, 2007 Peter Karlsten took on the position as President and CEO of Volvo Powertrain, succeeding Lars-Göran Moberg, who retired. Peter Karlsten also assumed the role as Senior Vice President Technology for the Volvo Group and become a member of the Group Executive Committee.  
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