New president

Olof Persson has been announced as successor to Tony Helsham as president at 473 Volvo Construction Equipment. Persson will take over the role on 1 November 2008 when Helsham steps down although he will remain part of the executive committee and take on responsibility for the group's 'soft' products.

Persson is currently president of Volvo Aero and joined the company in 2006 after holding senior positions in Bombardier and Daimler-1165 Chrysler.