Press release

Per Carlsson new President of Volvo Trucks North America Division

2007-10-23

Volvo Trucks

Per Carlsson has been appointed new President and CEO of Volvo Trucks North America Division. Per Carlsson is today responsible for Volvo Powertrain Sweden and he will take up his new position on January 1, 2008.

Per Carlsson, 47, has previously held various positions in the Volvo Group. Prior to his current position at Volvo Powertrain Sweden, he was CFO at Volvo Trucks. He is succeeding Peter Karlsten.

Starting December 1, Peter Karlsten will take on the position as President and CEO of Volvo Powertrain. He will also assume the role as Senior Vice President Technology for the Volvo Group and become a new member of the Group Executive Committee.

Lars Thoren, currently CFO, will assume the position as acting president of Volvo Trucks North America.

October 23, 2007

For further information, please contact Tommy Kohle, phone +46 - 706 766517 or Mårten Wikforss, phone +46 - 705 591149

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