Volvo Trucks North America Inc. announced that Marc Gustafson has elected to resign his position as president and CEO.

Since joining Volvo Trucks North America in 1996, Gustafson led the successful introduction of new products including the Volvo VN 770, VN 660, and the VHD series. In addition, he sponsored numerous innovative services and investments, including the cost-per-mile program as well as securing equity positions in Petro Truck Stops and Arrow Truck Sales, said Tryggve Sthen, president and CEO for Volvo Global Truck Corporation.

Because Mr. Gustafson took measures such as reducing dealer inventory levels, making aggressive cost reductions, establishing Six Sigma quality practices and re-energizing the Volvo Trucks North America product lines, the company is well prepared for the current tough industry conditions.

Karl-Erling Trogen, Senior Vice President AB Volvo, has been appointed acting president and CEO Volvo Trucks North America as of February 2, 2001, said Tryggve Sthen. Karl-Erling Trogen returns to Volvo Trucks North America where he was President from 1991 to 1994. Most recently, Karl-Erling Trogen served as a member of the Volvo Group Executive Committee. His responsibilities also included the synergy and integration issues for the group and development of emerging markets in India and China.