Lundstedt appointed president and CEO of Volvo Group

As of April 22, 2015, and until Martin Lundstedt assumes his new position, Jan Gurander, the Group Chief Financial Officer will be acting President and Chief Executive Officer of Volvo.

Martin Lundstedt will replace Olof Persson who has led the Group for almost four years.

“Olof Persson has with energy and determination carried out an extensive change of the Volvo Group,” says Carl-Henric Svanberg. “He has focused Volvo on commercial vehicles and sold unrelated businesses and assets to a value of over SEK 20 billion. He introduced a functional organization and paved the way for cost savings of SEK 10 billion. He also concluded the agreement with one of China’s largest truck manufacturers, Dongfeng and led the company during the largest product renewal in the Group’s history. Today the Volvo Group is considerably better positioned to compete for leadership in our industry.”

Martin Lundstedt has spent his career at Scania. He joined in 1992 as a trainee after obtaining an MSc in Industrial Management and Technology. He has held a number of executive positions.