Stefan Johnsson appointed member of Volvo Group Executive Committee

STEFAN JOHNSSON APPOINTED MEMBER OF VOLVO GROUP EXECUTIVE COMMITTEE Stefan Johnsson has been appointed a new member of the Volvo Group Executive Committee, responsible for strategic matters and business development. He assumes his new position on October 15, 1998. Stefan Johnsson, 39, has been employed within the Volvo Group since 1987. He has served as president of Volvo's internal bank, Volvo Group Finance, based in Göteborg, since 1994. Stefan Johnsson succeeds Claes Malmros, who has assumed a position as executive vice president of Ages, an American subsidiary of Volvo Aero Corporation. A successor to Stefan Johnsson as president of Volvo Group Finance has not yet been named. October 6, 1998