New President at Volvo Buses

Sweden--December 11, 2011: Per Carlsson, 50 years old, joined Volvo Group in 1985 and has a long experience in various executive managerial positions within Volvo Trucks, Volvo Cars, Volvo Powertrain, Volvo Parts and Volvo Buses. His current position is Senior Vice President, Strategic projects, Volvo Trucks.

Per Carlsson will replace Karlsson who will take up the position as head of the newly formed function Business Areas.

The Volvo Group is one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications and aerospace components. The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 100,000 people, has production facilities in 19 countries and sells their products in more than 180 markets. In 2010 annual sales of the Volvo Group amounted to about SEK 265 billion. The Volvo Group is a publicly-held company headquartered in Sweden. Volvo shares are listed on OMX Nordic Exchange Stockholm.