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Volvo Appoints New President, CEO

posted by  someone claiming to be 5lugnut on  Thu Jun 9 05:16 CST 2005 [RELATED]

Volvo Appoints New President, CEO
The Associated Press
Published: Jun 9, 2005






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 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 has had a 39-year career with Volvo, including 5 years as the automaker's president and CEO.

Shares of Ford fell 4 cents to $10.05 in morning trading on the New York Stock Exchange, where they have traded in a 52-week range of $9.07 to $16.48.

AP-ES-06-09-05 1054EDT






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