Volvo: New President Named for Mack Trucks

STOCKHOLM, Sweden--(Business Wire)--Regulatory News:

Paul Vikner, currently President and CEO of Volvo's American
subsidiary Mack Trucks, will leave his position on April 1 this year.
He will be succeeded by Dennis Slagle, currently head of Volvo
Construction Equipment's operations in North America, who will also
become a new member of Volvo's Group Executive Committee.

Dennis Slagle, 53, has more than 25 years of experience in the
construction equipment industry - where Mack holds a very strong
position -including a period as President of VCE's largest dealer in
the US.

"Trucks for the construction industry are a major part of Mack's
core business, and Dennis Slagle's unique background within the
industry will be a great advantage for the company in the future,"
says Volvo CEO Leif Johansson.

Vikner will remain a member of the Group Executive Committee
through July this year. Concurrent with leaving his position as
President and CEO, Vikner will take over as Vice Chairman of Mack
Trucks. He will also continue to work for the Volvo Group in the U.S.
in the role of advisor on public affairs issues.

Visit http://www.thenewsmarket.com/volvogroup to access
broadcast-standard video from Volvo Group. You can preview and request
video, and choose to receive as a MPEG2 file or by Beta SP tape.
Registration and video is free to the media.

AB Volvo (publ) may be required to disclose the information
provided herein pursuant to the Securities Markets Act. The
information was submitted for publication at 16.00 p.m. 20080115.

The Volvo Group (NASDAQ:VOLV) (STO:VOLVA) (STO:VOLVB) is one of
the world's leading manufacturers of trucks, buses and construction
equipment, drive systems for marine and industrial applications,
aerospace components and services. The Group also provides complete
solutions for financing and service. The Volvo Group, which employs
about 100,000 people, has production facilities in 19 countries and
sells their products in more than 180 markets. Annual sales of the
Volvo Group amount to about 27 billion euro. The Volvo Group is a
publicly-held company headquartered in Goteborg, Sweden. Volvo shares
are listed on OMX Nordic Exchange Stockholm.

This information was brought to you by Cision
http://newsroom.cision.com

The Volvo Group
Marten Wikforss, +46 31 66 11 27 or +46 705 59 11 49

Copyright Business Wire 2008