UPDATE: Volvo CE President Going To TRW
Pat Olney, currently president of Volvo Construction Equipment, will assume the role of chief operating officer of TRW Automotive Jan. 1, 2014. TRW is a $16.4 billion supplier of a broad range of automotive components including integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems, electronics, engine components, fastening systems and aftermarket replacement parts and services.
Olney will succeed Steve Lunn, TRW's current chief operating officer, who previously announced his intention to retire effective February 28, 2014. Olney will report to John Plant, chairman and chief executive officer of TRW Automotive and will be based in Livonia, Mich.
"Pat Olney is a well-rounded, hands-on, financially astute and globally experienced senior executive with 18 years of experience in roles of increasing responsibility at Volvo Construction Equipment,” said Plant. “The overlap between Pat and Steve will ensure a smooth transition and operational continuity."
Olney, 44, joined Volvo CE in 1996 and has held a number of top management positions in finance, operations and general management before becoming president of Volvo CE in May of 2011.