Fredrik Arp has been appointed the new president and chief executive of Volvo Cars, replacing Hans-Olov Olsson from October 1.

Fredrik Arp has been appointed the new president and chief executive of Volvo Cars, replacing Hans-Olov Olsson from October 1.

Arp is the current president and chief executive of Swedish company Trelleborg AB and has held several management positions at the company since 1985.

“This is a great opportunity for me to drive and support the profitable growth of the Volvo Car Corporation,” said Arp. “I am looking forward to working alongside such a successful team in one of the toughest competitive industries in the world, and to lead them in the further development of the company.”

Outgoing president and chief executive Olsson will become chairman of the board of the Volvo Car Corporation after 39 years at the manufacturer, and five years in his current position.

“Volvo is a fantastic company to work for. I wish Fredrik and the team every success in the future and have every confidence that we at Volvo have the team and the plans to continue to grow the company successfully,” Olsson said.

Original article from Car