Volvo’s chief technology officer to resign

Swedish commercial vehicles group Volvo AB (VOLV-B.SK) said Friday Torbjorn Holmstrom will step down from his position as Volvo Group chief technology officer and executive vice president of trucks technology.

Mr. Holmstrom will continue in his current position until a successor has been appointed and following this, he will remain at the Volvo Group as senior advisor research and development.

A search will be conducted during autumn 2015 to identify his successor, the company said.

“After concluding the largest industrial project in history of the Volvo Group – the renewal of the Volvo Trucks and Renault Trucks ranges – it is time to prepare for my successor”, Mr. Holmstrom said. “Continuity in technology leadership is an essential part of driving large product projects and now is a good time to look for a new head of technology development.”

Source: MarketWatch