Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
10/4/2011 4:00:00 PM Write a Letter to the Editor Write a letter to the Editor

Volvo to Restructure Global Truck Business


Bruce Harmon/Trans Pixs

Volvo AB said it will reorganize its truck business and named a new chief financial officer, Bloomberg reported Tuesday.

The truck division, currently separated into the Volvo, Renault, Mack Trucks and UD brands, will now be organized into three geographic segments: North and South America; Europe, the Middle East and Africa; and Asia and the Pacific.

The changes will be in effect by Jan. 1, Gothenburg, Sweden-based Volvo said in a statement.

The reorganization is Olof Persson’s second major move since taking over as CEO on Sept. 1. Last month, Volvo said it will set profit goals based on its leading competitors’ performance, marking a shift in focus from growth to profitability, Bloomberg reported.

Anders Osberg, Volvo’s head of treasury, will succeed Mikael Bratt as chief financial officer. Bratt will head a new division that will oversee all production of trucks and engines, Bloomberg reported.

Staffan Jufors, currently president of the truck business, will retire at the end of the year, Bloomberg said, citing the company.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2011, Transport Topics Publishing Group. All rights reserved.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

TFM

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement