June 21, 2013

Volvo Car Group appoints new Chief Financial Officer

Jan Gurander, Chief Financial Officer of Volvo Car Group (Volvo Cars) since 2011, has elected to leave Volvo Cars. Hans Oscarsson has been appointed as his successor, effective August 1. Hans Oscarsson is currently Deputy CFO and Operation Controller at Volvo
Cars.

Following the sale from Ford Motor Company, Volvo Cars has under the leadership of Jan Gurander built up a finance function that meets the reporting and controlling requirements for an independent company. The company's accounting function has been strengthened, IFRS accounting standards have been implemented and a treasury function has been established. The company also signed a number of strategically important financing agreements with Chinese and international banks.

"During his more than two years at Volvo Cars, Jan has created the conditions for long-term stability amidst a complex environment, and we thank Jan for his excellent efforts," said Hakan Samuelsson, President and CEO of Volvo Cars. "We now have a finance function that guarantees ongoing continuity."
 
Hans Oscarsson has worked within Volvo Cars since 1990. He has a thorough experience as a controller and CFO in both national sales companies as well as in several central functions. Hans Oscarsson was temporary CFO for Volvo Cars during 2010-2011 and with that fulfilled a key role during Zhejiang Geely Holding's acquisition of Volvo Cars.

"Hans Oscarsson's broad experience within Volvo Cars and his efforts during different phases of the company's history makes him highly suitable to take over the CFO position," added Hakan Samuelsson.


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