Martin Weissburg New President of Volvo CE

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Sweden--November 18, 2013: “It is with great pride and excitement that I take on this new position within the Volvo Group”

Martin Weissburg, 51, has been appointed new President of Volvo Construction Equipment, Volvo CE (STO:VOLVA)(STO:VOLVB). Weissburg is currently President of the Volvo Group’s customer finance company, Volvo Financial Services, VFS, and a member of the Group Executive Team. He will assume his new position on January 1, 2014, and replaces Pat Olney.

Martin Weissburg has been the President of VFS since 2010, and prior to that he served as President of Volvo Financial Services Americas from 2005 to 2010. Within his position at VFS, Weissburg has worked in close relationship with Volvo CE dealers for many years and has extensive and in-depth knowledge of the Volvo CE business.

“I am extremely satisfied to see Martin as President of Volvo CE”, says Volvo Group President and CEO Olof Persson. “During his time with VFS, Martin has proven to be a strong and dynamic leader who has taken VFS to higher levels. He is a proven operational expert who drives efficiencies and profitable growth, as well as develops talent and internal culture, and I am certain that he will continue to deliver very well as in his new role”.

Prior to joining the Volvo Group, Weissburg has many years of global leadership experience tied to distribution and sales of heavy equipment. Weissburg has served as President of Great Dane Financial, and as President of the manufacturing company Woodard LLC. He started his professional career in the field of construction equipment when joining Caterpillar out of university as a marketing management trainee. He has a Bachelor of Science from Purdue University and an MBA in international business from George Washington University.

“It is with great pride and excitement that I take on this new position within the Volvo Group”, says Martin Weissburg. “During my time as President of VFS, I have worked with very close ties to Volvo CE and I look forward to driving and developing the Volvo CE business in all markets and customer segments”.

The search for a replacement to Martin Weissburg has begun.

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