Press release

Mikael Bratt new CFO of the Volvo Group

2008-02-11

AB Volvo

Mikael Bratt, Head of Corporate Finance at AB Volvo, has been appointed new Chief Financial Officer of the Volvo Group. Bratt will assume his new position immediately and succeed Pär Östberg, who is assuming responsibility for the Group’s Asian truck operations in conjunction with the retirement of Jorma Halonen on April 1 this year.

Mikael Bratt, 40, has been Vice President & Head of Corporate Finance at AB Volvo since 2002 and has worked for the Volvo Group since 1988. Bratt has extensive experience of the Volvo Group’s various operations and has held management positions in units including Volvo Treasury North America and Volvo Trucks’ operations in Brazil. He will assume his new position immediately and will also be a member of Volvo’s Group Management. As Head of Corporate Finance, Mikael Bratt has directed the work on the acquisitions that Volvo has completed in recent years and thus has excellent insight into these companies.

“Mikael’s wide-ranging, international experience within the Volvo Group and the knowledge he has accumulated in his role as Head of Corporate Finance will be extremely useful in his new position as Chief Financial Officer,” says Leif Johansson, President & CEO of the Volvo Group.

February 11, 2008

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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