Volvo chairman confident about CEO's efficiency drive

April 1, 2015 5:16 PM

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GOTHENBURG, Sweden, April 1 (Reuters) - Swedish truck maker Volvo's chairman is confident that a big efficiency drive masterminded by the company's chief executive will lift profits this year despite a dismal 2014.

Time is running out for CEO Olof Persson's plan to show results, especially after operating margin shrank to 2.1 percent last year, far below the 8.7 percent it stood at in 2011 before the scheme started in September 2012.

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