. Ford Names Fredrik Arp President, CEO of Volvo
Cars
Hans-Olov Olsson to Become
Chairman of the Board of Volvo Cars Corp.
DEARBORN, Mich. - Ford Motor
Company announced Fredrik Arp has been appointed chief executive officer
and president of Volvo Cars Corp., succeeding Hans-Olov Olsson, who
becomes chairman of the board of Volvo Cars.
Arp most recently served as
president and CEO of Trelleborg AB, a Sweden-based global auto industry
supplier specializing in advanced polymer technologies. His and Olsson's
appointments become effective October 1.
Arp will report to Mark
Fields, Ford's executive vice president, Premier Automotive Group and Ford
of Europe, who said, "Volvo Cars has a strong business and a great
brand. Fredrik Arp's challenge is to lead the further growth of the Volvo
business. Fredrik has an impressive track record in sales and
manufacturing and I am delighted he has agreed to accept this challenge. I
look forward to welcoming him to Volvo and to Ford Motor Company."
Added Arp: "Volvo is a
name that stands for Swedish excellence around the world. This is a great
opportunity for me to drive and support the profitable growth of Volvo
Cars Corp. I am looking forward to working alongside such a successful
team, in one of the toughest and most competitive industries in the world,
and to lead them in the future development of the company."
Fields also commented on
Olsson's 39-year career with Volvo, which includes five years as the
automaker's president and CEO.
"Hans-Olov's
contribution to Volvo Cars over the years and around the globe is
immeasurable," Fields said. "He has helped steer the company
with a unique combination of charm, vision and steely determination to the
position it is in today, which is stronger than at any other time since
the company's foundation in 1927. His continued support as Chairman of the
Board will be invaluable as we move forward to Volvo's next
challenges."
Olsson said: "Volvo is a
fantastic company to work for -- I should know I've been here almost four
decades. I wish Frederik and the team every success in the future; I have
every confidence that we at Volvo have the team and the plans in place to
go from strength to strength."
Ford Motor Company,
headquartered in Dearborn, Mich., is a leading global automaker, with more
than 324,000 employees in 200 markets on six continents. Its automotive
brands include Aston Martin, Ford, Jaguar, Land Rover, Lincoln, Mazda,
Mercury and Volvo. Its automotive-related services include Ford Credit,
Quality Care and Hertz. Ford Motor Company celebrated its 100th
anniversary on June 16, 2003.
