Volvo Appoints New President and CEO, Fredrik Arp

Strategic Insights -

Fredrik Arp, previously President and CEO of Trelleborg AB, has been appointed as the new President and CEO of Volvo Car Corporation, effective October 1, 2005. Arp will succeed Hans-Olov Olsson, who has served as President and CEO for 39 years and will become Chairman of the Board of Volvo Car Corporation. Arp brings a strong track record in sales and manufacturing and will lead the further growth of the Volvo business.

Key Takeaways:

  • Fredrik Arp has been appointed as the new President and CEO of Volvo Car Corporation, effective October 1, 2005, succeeding Hans-Olov Olsson.
  • Arp has a long experience in the Swedish industry, including Swedish Match and PLM (Rexam), and has held several management positions at Trelleborg AB since 1985.
  • Hans-Olov Olsson will become Chairman of the Board of Volvo Car Corporation with effect from October 1, 2005, and will continue to provide support as a member of the Board.
  • Mark Fields, Executive Vice President of Premier Automotive Group and Ford of Europe, welcomed Arp to his new position and expressed confidence in his ability to drive the profitable growth of Volvo Car Corporation.
  • Volvo Car Corporation has 27,500 employees, with major manufacturing activities in Sweden and Belgium, and sold 456,000 cars in 2004.
  • Olsson has served as President and CEO for 39 years and has contributed significantly to the company's growth and success.

Statistics:

  • 456,000: The number of cars sold by Volvo Car Corporation in 2004.
  • 27,500: The number of employees at Volvo Car Corporation.
  • 39 years: The length of time Hans-Olov Olsson served as President and CEO of Volvo Car Corporation.
  • 1927: The year Volvo was founded.
  • 10/01/2005: The effective date of Fredrik Arp's appointment as President and CEO of Volvo Car Corporation.
  • 10/01/2005: The effective date of Hans-Olov Olsson's appointment as Chairman of the Board of Volvo Car Corporation.

Sources:

  • Volvo Car Corporation press release
  • COMTEX (http://www.comtexnews.com)
  • Waymaker (http://www.waymaker.net)