Volvo ousts chief executive and turns to Scania for new boss

April 22, 2015 7:10 AM

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STOCKHOLM (Reuters) – Sweden’s Volvo named the head of Volkswagen-owned Scania as its chief executive on Wednesday, replacing embattled Olof Persson who for nearly four years led a sweeping efficiency drive at the global truck maker.

Volvo, vying for global dominance with Germany’s Daimler and VW’s truck brands, also released better than expected quarterly earnings two days ahead of schedule and said it would seek an external partner for parts of its IT business.

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