Volvo truck maker names new CEO from rival Scania

April 22, 2015 9:26 AM

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Swedish truck maker AB Volvo has tapped Martin Lundstedt, the top boss at rival Scania AB, to become the new chief executive and group president later this year.

Group chairman Carl-Henric Svanberg says the Goteborg-based company "is gradually" entering a new phase with "an intensified focus on growth and increased profitability."

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