GOTEBORG, Sweden, May 19, 2003 (PRIMEZONE) -- Peter Karlsten, president of Volvo Trucks in Brazil, will be the new president of Volvo Trucks North America. Karlsten will assume his new position on October 1 this year.
Peter Karlsten, 46, has served as President of Volvo Trucks in Brazil since 2001. He succeeds Michel Gigou, whose foreign service contract expires at year-end and he therefore chooses to return to Europe. In his new position, Karlsten will report to Volvo Truck's President Jorma Halonen. Gigou, who was previously President of Mack Trucks, Inc., will continue to serve as Chairman of Mack Trucks, Inc.
"Gigou has done an excellent job in managing the coordination of our North American operations and can be proud to have succeeded in accomplishing a significant earnings improvement. I fully respect his choice to return to Europe when his contract expires at year-end," said Volvo (Nasdaq:VOLVY) (Other OTC:VOLVF)(Other OTC:VOLAFK) Chief Executive Officer Leif Johansson.
For further information contact Marten Wikforss, +46 31 66 11 27
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