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Carl-Henric Svanberg rumoured to take over in the Volvo
Thursday, 01 December 2011
Carl-Henric Svanberg will be taking over as president of Volvo Trucks according to media reports in Sweden.

Analysts believe that Svanberg can do some good in the group given its global position.
“Given Volvo's size and its global position, it would be wise that a person who has long international experience such as him drive the firm,” says an analyst Magnus Axén.

According to Swedish newspaper, Svenska Dagbladet, refering to "multiple independent sources", the news will be blown open within weeks in which two Swedish business leaders would be changing company with each other.

Svanberg is the former CEO of telecommunications giant Ericsson. Leif Johansson, now chairman of Ericsson, has been CEO of Volvo.

According to the newspaper, Volvo's two largest shareholders, Renault and Industrivärden, have agreed that Svanberg should be the President. Svanberg is reported to have accepted the proposal.

The desire to change the Volvo’s chairmanship is said to have been driven by Volvo’s current President, Frenchman Louis Schweitzer who will soon be retreating to retirement and that Volvo's new CEO Olof Persson need to build long term relationships with a President who is expected to stay longer in the organisation.

“The new CEO needs to have to be a cooperative person who is stable and long term,” says Axén who also believe that it can not be ruled out that Volvo's attempt to sell various businesses continues. In other activities there may be international collaborations that are emerging with other players.

Then it is important to have a chairman who has experience in such domains and that is flexible and open to them.

Previous attempts to get Svanberg on the board met with opposition, mainly due to the way Svanberg was criticized during his efforts as chairman of oil giant BP over the oil spill in the Gulf of Mexico.

But it is now believed that the hatred has been tone down that there would likely be no great strain for him in Volvo.
By Scancomark.se Team

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