STOCKHOLM, Sweden, Jan. 7, 2002 (PRIMEZONE) -- Since Volvo's acquisition of Renault V.I. and Mack Trucks a year ago a large part of the operations have been focused on immediate integration programs and development of a strategy for the future comprising product plans for both vehicles and engines. The greater part of this work has now been completed and the years immediately ahead will be characterized by implementation of approved strategies and product plans in order to take advantage of the synergies that have been created through the acquisition. A clear focus on customers, based on distinct and powerful brand names, will be decisive. Taken as a whole, this means that new forms of organization and management are becoming necessary.
In order to create a cost-effective structure with fewer levels, Volvo Global Trucks will be integrated with Volvo Group Head Quarter. The three truck companies - Volvo Trucks, Renault V.I. and Mack Trucks - will become separate Business Areas and will thereby get more prominent and more distinct roles. Jorma Halonen, President of Volvo Trucks and Chairman of Volvo Trucks North America, and Philippe Mellier, President of Renault V.I., will report directly to Leif Johansson and will be members of Volvo Group Executive Committee. Michel Gigou, President of Volvo Trucks North America, who is responsible for the integration of truck operations in North America, will become chairman of Mack Trucks and a member of Volvo Group Executive Committee, reporting to Leif Johansson. Paul Vikner, President of Mack Trucks, will report to Michel Gigou.
The present President of Global Trucks, Tryggve Sthen, will continue to serve on the Volvo Group Executive Committee.
Volvo 3P will become a business unit in the Volvo Group with responsibility for Product planning, Purchasing and Product development for the three Truck Companies. The President of Volvo 3P, Odile Desforges, will report to Lars-Goeran Moberg, Technical Director in the Volvo Group Executive Committee.
The other staff units within Global Trucks are being integrated with Volvo Group Head Quarter.
Global Trucks will continue to be a business area within the Volvo Group only with regard to external reporting of financial results. Decided strategies and objectives are not changed by the new organization, which becomes effective immediately.
The other business areas within the Volvo Group are not affected by the changed organization.
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