Our history - 1971

1971

  • A 36-year-old lawyer, who had studied Business Management in Switzerland and had also spent two years as head of Skandia Insurance Company, joined Volvo in 1971 as President and CEO. His name was Pehr G Gyllenhammar.
  • At that time, Volvo was the largest industrial concern in Sweden and he could not envisage a greater challenge. He would continue at the helm of Volvo for almost 22 years.
  • This period was marked by many notable business deals, some very successful, others less so. Pehr G Gyllenhammar was also very much involved in the actual working conditions of the employees.
  • Among other achievements, he invited employee representatives to join the Board and established a Group-wide Works Council.
  • Volvo's first rear-engined bus model, the B59, became a popular city bus.