Volvo President, CEO To Resign In Summer 2011

Posted on December 10, 2010

Leif Johansson, president and CEO of Volvo, plans to resign from his position in conjunction with his 60th birthday in the summer of 2011.

“My years at Volvo have been a fantastic period in my life and this is by no means a light-hearted decision, but at some point it’s time to leave,” Johansson said. “The timing is good both with respect to my personal situation and with respect to the more stable situation for the company.”

The move also means that Johansson will leave the Board of AB Volvo. The decision to resign is not based on a desire to become CEO at a different company, Johansson said, adding that he might consider new board assignments.

Johansson, who will turn 60 in August 2011, has been Volvo’s president and CEO since 1997. He also holds senior positions with other companies and organizations, such as Bristol Myers Squibb and SCA. He is also the chair of the European Round Table of Industrialists.