GREENSBORO, N.C. — Peter Karlsten, head of Volvo Trucks North America, has been appointed president of Volvo Powertrain. He will assume his new position on December 1, when his predecessor, Lars-Goran Moberg, retires.

Karlsten will also assume the role of senior vice-president of Technology for the Volvo Group and become a new member of the Group Executive Committee.

Karlsten has been head of Volvo’s North American truck operations since 2003. Prior to this he was head of Volvo Trucks in Brazil. He has previously
worked within ABB and holds a degree in engineering with graduate studies in
economics.

“Lars-Goran Moberg has done an excellent job during the years of restructuring and focusing after the major acquisitions at the beginning of 2000,” says Volvo CEO Leif Johansson. “Peter Karlsten has many years of international experience in manufacturing and marketing. I am convinced he will contribute strongly in helping to develop and carry out the Group’s international expansion and strategic development.”