Press Releases

New President And CEO At Volvo Car Corporation

 

GÖTEBORG (June 9, 2005) – Fredrik Arp, currently President and CEO of Trelleborg AB, has been appointed President and CEO of Volvo Car Corporation effective October 1, 2005, replacing Hans-Olov Olsson.

 

In welcoming Fredrik Arp to his new position, Ford Motor Company's Executive Vice President, Premier Automotive Group and Ford of Europe, Mark Fields said: “Volvo Cars has a strong business and a great brand. Fredrik Arp's challenge is to lead the continued growth of the Volvo business. Fredrik has an impressive track record in sales and manufacturing and I am delighted he has agreed to accept this challenge. I look forward to welcoming him to Volvo Cars and to Ford Motor Company.”

 

Arp, who will report to Fields, brings extensive background in Swedish industrial business, including positions at Swedish Match and PLM (Rexam). He has held several management positions at Trelleborg AB since 1985 and has been President and CEO since 1999.

 

“Volvo is a name that stands for Swedish excellence around the world,” Arp said. “This is a great opportunity for me to drive and support the profitable growth of Volvo Car Corporation. I am looking forward to working alongside such a successful team, in one of the toughest and most competitive industries in the world, and to lead them in the future development of the company.”

 

After 39 years with Volvo and five years as President and CEO at Volvo Cars, Hans-Olov Olsson will become Chairman of the Board of Volvo Car Corporation as of October 1, 2005.

 

“Hans-Olov's contribution to Volvo Cars over the years is immeasurable,” Fields said. “He has helped steer the company with a unique combination of charm, vision and steely determination to the position it is in today, which is stronger than at any other time since the company's foundation in 1927. His continued support as Chairman of the Board will be invaluable as we move forward to the company's next challenges.”

 

“Volvo is a fantastic company to work for – I should know I've been here almost four decades,” Olsson said. “I wish Fredrik and the team every success in the future; I have every confidence that Volvo Cars has the team and the plans in place to continue to grow the company successfully.”

 

Volvo Car Corporation is a division of Ford Motor Company with 27,500 employees and major manufacturing facilities in Sweden and Belgium. Volvo Cars sold 456,000 vehicles in 2004.

For further information please contact:

Olle Axelson

Senior Vice President Public Affairs

Phone: +46 31 59 26 00

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