Volvo Appoints New President and Chief Executive

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Thread: Volvo Appoints New President and Chief Executive

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    Volvo Appoints New President and Chief Executive

    Volvo Appoints New President and Chief Executive

    By THE ASSOCIATED PRESS
    Published: June 9, 2005
    Filed at 6:07 p.m. ET

    DEARBORN, Mich. (AP) -- Fredrik Arp has been appointed president and chief executive of Volvo Cars Corp., succeeding Hans-Olov Olsson, who will become chairman, parent Ford Motor Co. announced Thursday.

    Arp, 52, will report to Mark Fields, who oversees Ford of Europe and Premier Automotive Group, which includes Volvo, and also currently serves as Volvo chairman, Dearborn-based Ford said. The appointments are effective Oct. 1.

    ''I feel I have strong support from Ford to develop Volvo Cars,'' Arp said at a news conference in Goteborg, Sweden.

    Arp most recently served as president and CEO of Trelleborg AB, a Swedish industrial group that supplies the auto industry. Olsson, 63, has had a 39-year career with Volvo, including 5 years as the automaker's president and CEO.

    Shares of Ford fell 7 cents to close at $10.02 in Thursday trading on the New York Stock Exchange, where they have traded in a 52-week range of $9.07 to $16.48.
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    Re: Volvo Appoints New President and Chief Executive

    I wonder if he can turn volvo around?
    I'll make a new sig. Later.
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