New President of Volvo Financial Services

New President of Volvo Financial Services

Martin Weissburg, 48, has been appointed as new President of the Volvo Group's
customer finance company, Volvo Financial Services (VFS). Weissburg, who is
currently head of VFS' the Americas operations, will assume his new position on
May 15, 2010 and replaces Salvatore L Mauro, who has been appointed new head of
the Volvo Group's representation office in New York. 

At the same time, it has been decided that Volvo Financial Services' headquarter
will be relocated from Montvale, New Jersey, to Greensboro, North Carolina,
which is the center of the Volvo Group's North American truck and financial
services operations. 


Martin Weissburg has served as head of Volvo Financial Services' North American
operations since 2005 and, in conjunction with his appointment as President,  he
becomes a new member of Volvo's Group Executive Committee.

“I am honored to lead Volvo Financial Services' global team of over 1,200
professionals who provide financial products to Volvo Group customers in over 40
countries.” says Martin Weissburg. “By transferring the global headquarters to
Greensboro, we will be co-located with the North American Truck and Financial
Services operations, which has definite benefits.”

Salvatore Mauro, 50, has been President of Volvo Financial Services since 2001.
Prior to that, his positions included that of head of Volvo Cars' European
customer finance business. 

As new head of the Volvo Group's American representation office, his
responsibilities will include contacts with authorities, the media and investors
in North America. He succeeds Stefan Lorentzsson, who is moving back to Sweden. 

“I have worked with financial matters for nearly my entire career and very much
look forward to working on entirely different and important issues for the
Group,” says Salvatore Mauro. 

April 26, 2010 

For further information, please contact Mårten Wikforss, +46 31 66 11 27or + 46
705 59 11 49.

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The Volvo Group is one of the world's leading manufacturers of trucks, buses and
construction equipment, drive systems for marine and industrial applications,
aerospace components and services. The Group also provides complete solutions
for financing and service. The Volvo Group, which employs about 90,000 people,
has production facilities in 19 countries and sells their products in more than
180 markets. In 2009 annual sales of the Volvo Group amounted to about SEK 218
billion. The Volvo Group is a publicly-held company headquartered in Göteborg,
Sweden. Volvo shares are listed on OMX Nordic Exchange Stockholm. For more
information, please visit www.volvogroup.com or www.volvogroup.mobi if you are
using your mobile phone.