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Volvo Car Corporation Strengthens Key Markets Through Global Executive Changes

    ROCKLEIGH, N.J., May 8 Volvo Car Corporation President and
CEO, Hans-Olov Olsson has announced a pair of global appointments that will
further strengthen the Volvo brand in two of its most important market areas.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20010508/NYTU058-a
             http://www.newscom.com/cgi-bin/prnh/20010508/NYTU058-b
             http://www.newscom.com/cgi-bin/prnh/20010508/NYTU058-c )
    Dan Werbin has been appointed President and CEO of Volvo Cars of North
America, Inc. moving from a similar role in Volvo Cars Japan that he has held
since 1996.  Replacing him as President of Volvo Cars Japan, will be Necip
Soyak, currently Executive Vice President of the International Business Unit
at Volvo Cars of North America with responsibility for Canada, Mexico and
Puerto Rico.
    During the planned transition, Necip Soyak will work alongside Dan Werbin
during summer 2001 before Dan Werbin transfers to Volvo Cars North America,
Inc. to take up his new responsibilities.
    During this period a temporary "bridging solution" in North America will
be provided by Premier Automotive Group Executive Director Vic Doolan who,
effective immediately, will act as President and CEO of Volvo Cars North
America, Inc. until year end 2001.  He will report directly to Volvo Car
Corporation President and CEO Hans-Olov Olsson.
    "These appointments ensure strong leadership will be sustained in key
market areas, underpinning our ambitions for profitable growth" comments
Hans-Olov Olsson.  "It is also an illustration of our commitment to promote
competency within our company and thus strengthen our position as a premium
global brand."

    Biography

    DAN WERBIN
    President and CEO, Volvo Cars Japan

    Dan Werbin, 57, was appointed President and CEO of Volvo Cars Japan in
1996.  He has a long and distinguished career at Volvo behind him, including
product planning, engineering, sales and executive management assignments.
    Prior to  his assignment in Japan, Mr. Werbin was responsible for the
realization of Volvo S40 and  V40, a product and industrial project of major
scale involving close co operation and negotiations with Mitsubishi Motor
Corporation.
    Mr. Werbin has played a major role in product development at Volvo.  From
1978 through 1986 he headed the Product Planning Division paving the way for
Volvo 850, the first front wheel driven product from Volvo, introduced 1992 in
the US.
    Mr. Werbin also has experience in the US market.  Between 1973 and 1978,
Mr. Werbin established a Product Engineering and Development department in the
US.  His function was to consolidate a competitive product program for the
North American, as well as develop and maintain constructive relations with
various state authorities on matters concerning safety and environment.
    As a graduate of Chalmers University in Gothenburg with a Master of
Engineering Degree, Mr. Werbin joined Volvo in 1970.  His first responsibility
as product specialist was to assist in developing the first safety concept car
from Volvo, the Volvo Experimental Safety Vehicle, VESC.

    Biography

    NECIP SOYAK
    Executive Vice President, International Business Unit
    Volvo Cars of North America, Inc.

    Necip Soyak was appointed to the newly created position of Executive Vice
President, International Business Unit for Volvo Cars of North America, Inc.
effective April 2001 with responsibility for Canada, Mexico and Puerto Rico.
Further, he assumed a supervisory role for the transfer of Volvo's North
American headquarters from Rockleigh, New Jersey to Irvine, California in
August 2001.
    Previously, Mr. Soyak had held the position of Executive Vice President,
Corporate Services with responsibility for legal services, corporate
communications, human resources and finance.
    Prior to joining Volvo Cars of North America, Inc. in April 2000,
Mr. Soyak's earlier career comprised a series of management positions in a
diverse mix of countries, which helped him develop a keen understanding of how
to work both with and within different social and corporate cultures.
    Mr. Soyak worked with Atlas Copco, the Swedish-based industrial giant,
known primarily in North America for such brands as Chicago Pneumatic,
Milwaukee Electric and Prime Equipment, as well as their extensive
manufacturing and industrial activities.
    At Atlas Copco, Mr. Soyak held a number of executive and management
positions:

    -- President and CEO of Chicago Pneumatic USA.
    -- President and Representative Director of Atlas Copco KK, Japan
    -- Vice President of Business Development for Atlas Copco's Airpower
       division in Belgium, where he was responsible for projects in East Asia
       and Soviet bloc countries
    -- Product Manager at Atlas Copco, Spain

    Mr. Soyak began his career at Atlas Copco, Stockholm in 1971 after
graduating with a Bachelor's Degree in Economics from Robert College in his
native Istanbul, Turkey.  He is a graduate of Harvard Business School's Senior
Management Program and attended IFL-the Swedish Institute of Management's
International Operations.

    Biography

    VICTOR H. DOOLAN
    Executive Director, North America,
    Marketing and Distribution Strategy, Premier Automotive Group

    Victor H. Doolan is Executive Director, North America, Marketing and
Distribution Strategy, Premier Automotive Group.  In this position, he is
responsible for developing integrated marketing and distribution strategies
for Ford Motor Company's Premier Automotive Group brands -- Lincoln, Jaguar,
Aston Martin, Land Rover, and Volvo.
    Mr. Doolan, who joined Ford Motor Company on July 17, 1999, previously
served as President of BMW of North America, Inc., for seven years where he
was responsible for all automotive sales, distribution and marketing
activities in the United States.
    Mr. Doolan's international business experience includes sales, marketing
and finance leadership positions in the automotive and banking industries in
the U.S., Canada, England and South Africa.  He served as president of BMW
Canada and Vice President of BMW South Africa.
    A graduate of Watford College in the United Kingdom, he  has received
numerous awards for his philanthropic leadership, including the 1998 Marjorie
Guthrie Leadership Award for fostering humanitarian concerns from the
Huntington Disease Association and the 1996 Automotive Industry's "Good Scout"
Award from the New York Council of the Boy Scouts of America.
    Mr. Doolan and his wife Ann reside in Newport Beach, Calif.

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