The Board of Directors of AB Volvo has decided to appoint Martin Lundstedt, 47, as the President and Chief Executive Officer of the Volvo Group. Lundstedt will assume his position in October 2015. His most recent role is as President and CEO of the Scania Group. Jan Gurander, the Group Chief Financial Officer, will be acting President and Chief Executive Officer in the interim.
"After three years of focus on product renewal, internal efficiency and restructuring, the Volvo Group is gradually entering a new phase with an intensified focus on growth and increased profitability. This will be achieved by further building on our leading brands, strong assets and engaged and skilled employees all over the world," says Carl-Henric Svanberg, Chairman of the Board of AB Volvo. "Martin Lundstedt has 25 years of experience from development, production and sales within the commercial vehicle industry. He is also known for his winning leadership style."
As of April 22, 2015, and until Lundstedt assumes his new position, Jan Gurander, the Group Chief Financial Officer will be acting President and Chief Executive Officer of Volvo.
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 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."
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:
- MSc in Industrial Management and Technology
- 1995 Project leader Scania do Brasil
- 1996 Manager Industrial Engineering, Scania Engine Production
- 1997 Production Manager Scania Engine Production
- 1999 Head of Basic Engine Development
- 2001 Managing Director of Scania Production, Angers France
- 2005 Head of Product Marketing and member of the Executive Team
- 2006 Head of trucks
- 2007 Head of Franchise and Factory Sales
- 2012 President and CEO of the Scania Group