Tryggve Sthen new president for Volvo Trucks

TRYGGVE STHEN NEW PRESIDENT FOR VOLVO TRUCKS Tryggve Sthen, currently president of Volvo Construction Equipment Corporation, has been appointed president of Volvo Truck Corporation, as of June 1 this year. He succeeds Karl-Erling Trogen, who will remain a member of Volvo's Group Executive Committee, with responsibility for synergy and integration issues and Group responsibility for certain developing markets, including India and China. "Under Tryggve Sthen's management, Volvo CE has secured its position as the Group's clearly most profitable business area at the same time that the company underwent a strong expansion. Particularly considering this background, I am convinced that Tryggve Sthen has the characteristics required to successfully lead Volvo Trucks in light of the new challenges that the company now faces," says Volvo's CEO Leif Johansson. "Karl-Erling Trogen's unique experience will provide added drive in the necessary work to conduct the synergy and integration efforts throughout the Group,"continues Leif Johansson. Karl-Erling Trogen comments: "When I became president of Volvo Trucks, I stated that this was a position I would hold for a maximum of five years, which means that I have been working on "overtime" the past year. Therefore, it feels natural to leave now at a time when the truck operations within Volvo are moving into a new development phase." A new president of Volvo Construction Equipment Corporation will be appointed in the near future. May 17, 2000 For further information, please contact: Mats Edenborg; AB Volvo +46 31 59 11 26, +46 708 59 11 26 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/17/20000517BIT00090/bit0001.doc http://www.bit.se/bitonline/2000/05/17/20000517BIT00090/bit0002.pdf