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News of  May 09, 2001

Volvo Car Corporation Strengthens Key Markets Through Global Executive Changes

ROCKLEIGH, N.J. - Volvo Car Corporation President and CEO, Hans-Olov Olsson has announced a pair of global appointments that will further strengthen the Volvo brand in two of its most important market areas.

Dan Werbin has been appointed President and CEO of Volvo Cars of North America, Inc. moving from a similar role in Volvo Cars Japan that he has held since 1996. Replacing him as President of Volvo Cars Japan, will be Necip Soyak, currently Executive Vice President of the International Business Unit at Volvo Cars of North America with responsibility for Canada, Mexico and Puerto Rico.

During the planned transition, Necip Soyak will work alongside Dan Werbin during summer 2001 before Dan Werbin transfers to Volvo Cars North America, Inc. to take up his new responsibilities. During this period a temporary "bridging solution" in North America will be provided by Premier Automotive Group Executive Director Vic Doolan who, effective immediately, will act as President and CEO of Volvo Cars North America, Inc. until year end 2001. He will report directly to Volvo Car Corporation President and CEO Hans-Olov Olsson.

"These appointments ensure strong leadership will be sustained in key market areas, underpinning our ambitions for profitable growth" comments Hans-Olov Olsson. "It is also an illustration of our commitment to promote competency within our company and thus strengthen our position as a premium global brand."

(May 8, 2001)

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