Change in Volvo’s Group Executive Committee

As a result of Nissan Diesel’s current President, Iwao Nakamura, retiring at mid-year 2007, Satoru Takeuchi will replace him as a member of Volvo’s Group Executive Committee. Satoru Takeuchi will also succeed Iwao Nakamura as President of Nissan Diesel.

Satoru Takeuchi, born 1946, is currently Senior Managing Director within Nissan Diesel and has worked within the company since 1969.

Iwao Nakamura, born 1942, has been President of Nissan Diesel since 2002.

May 11, 2007

For further information, please contact Mårten Wikforss, +46 31 66 11 27 or +46 705 59 11 49