Volvo Deputy CEO Jorma Halonen to retire

Volvo Deputy CEO Jorma Halonen to retire 

Jorma Halonen, Deputy CEO of Volvo will retire on April 1, 2008. His duties in
recent years have included responsibility for Volvo's expansion in Asia.



”I have been considering my situation for some time and came to the conclusion
that it is about time to slow my work pace. The past few years have been very
intensive, involving many trips and time lags, which take their toll
physically,” comments Jorma Halonen.

”Jorma has carried a heavy load and together with committed employees his
accomplishments include the transaction with Nissan Diesel in Japan and now most
recently the agreement with Eicher in India,” says Volvo CEO Leif Johansson.
“Certainly, there is work remaining, which includes China, but we now have an
organization in place that can handle these issues. Although Jorma will leave a
void behind him, this can be a favorable time to pass the baton.”
December 18, 2007

For reporters who want more information, please contact Mårten Wikforss, +46 31
66 11 27 or +46 705 59 11 49.

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AB Volvo (publ) may be required to disclose the information provided herein
pursuant to the Securities Markets Act. The information was submitted for
publication at 16.20 p.m. December 18, 2007.

The Volvo Group is one of the world's leading manufacturers of trucks, buses and
construction equipment, drive systems for marine and industrial applications,
aerospace components and services. 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. Annual sales of the Volvo Group amount to about 27 billion euro.
The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden.
Volvo shares are listed on OMX Nordic Exchange Stockholm.