Pat Olney leaves Volvo Construction Equipment Mr.

Mr. Pat Olney, currently President of Volvo Construction Equipment, has decided to leave his position to take up a new challenge in a non-competing, large engineering company based in the U.S.A. Pat Olney will remain in his present position until year end. Mr. Olney, aged 44, joined Volvo CE in 1996 and has held a number of top management positions in Finance, Operations and General Management before he became the President of Volvo CE in 1 May 2011. “I have had a long and rewarding career with Volvo, and for that I will always be grateful. As such, this was not an easy decision. I have had the ambition to relocate at some point to North America and this opportunity was simply too good to pass up” says Pat Olney. “Pat has done an excellent job during his career with Volvo I regret that he has decided to leave Volvo. At the same time I fully understand and respect his desire to move to North America for professional and personal reasons”, says Olof Persson, President and CEO of the Volvo Group. The search for a replacement to Pat has begun. October 21, 2013 Reporters who want more information, please contact Karin Wik, Volvo Group, tel. +46-765-53 10 20 Klas Magnusson, Volvo Construction Equipment, tel +46-2 48 25 065 For more stories from the Volvo Group, please visit http://www.volvogroup.com/globalnews.