Volvo revamps truck business

Swedish truck maker Volvo said yesterday it will shake up its truck business. Under the revamp, sales and marketing of all of the truck companies will be put into three regional units. Responsibility for the group’s joint ventures will be organised in a new unit, Truck Joint Ventures, under the leadership of Par Ostberg, who is currently responsible for Trucks Asia. Truck Joint Ventures will also report directly to Persson. Hakan Karlsson, president of Volvo Bus Corp, will become chairman of Volvo Aero, Volvo Buses and Volvo Penta and of a new business area, governmental sales, the company said in a statement. Karlsson will also be chairman of the board of Volvo Construction Equipment.