ROCKLEIGH, N.J. - Mark R. LaNeve has been appointed President and CEO of Volvo Cars of North America, Inc., effective July 1.  Mr. LaNeve succeeds Hans-Olov Olsson, who after two years as head of Volvo's North American operations returns to Sweden, taking up the position as President and CEO of Volvo Car Corporation. 

As Vice President of Marketing, for the past three years, Mr. LaNeve has managed the successful launches of Volvo's new generation of vehicles. Mr. LaNeve joined VCNA in November 1997 after a distinguished career at General Motors, which started in 1981. 

"Mark was chosen based on his broad experience in both field and staff automotive operations, and for his proven marketing creativity in brand management and organizational leadership," notes Hans-Olov Olsson. "I am very confident that he will substantially contribute to VCNA's volume growth, profitability and Volvo's premium brand development in North America." 

A native of Beaver Falls, Pennsylvania, Mr. LaNeve holds a Bachelor's degree in Business Communications from the University of Virginia.  He is heavily involved in groups supporting research to cure and prevent children's neurological disorders. Mr. LaNeve, who is 41 years old, is married to Paula and has twin, 8-year-old sons, Jake and Drew.  

In connection with Mr. LaNeve's appointment VCNA will streamline its business operations at the headquarters in Rockleigh, NJ, into three main business areas -- Car Business Unit, headed by Executive Vice President Peter Butterfield, Marketing, Executive Vice President to be decided, and Aftermarket Business Unit, headed by Executive Vice President Paul Welander.  A new function of Corporate Support has been established, managed by Executive Vice President Necip Soyak. 

"Together with our retailers we will have a strong team focused on growing the business and providing premium value to our customers," says Mark LaNeve. 

(June 30, 2000)