Persson to Succeed Johansson as Volvo’s CEO

Olof Persson will become CEO of Volvo AB as of Sept. 1, the truck maker said.

He will replace Leif Johansson, who is retiring after running the diversified manufacturer for 13 years.

Gothenburg, Sweden-based Volvo is the world’s second-largest truck maker. The company makes Volvo and Mack trucks in North America.

Persson has been with Volvo since 2006 and currently is president of the company’s construction business. He has also been president of the company’s aerospace business.

From May through August Persson will be executive vice president and deputy CEO and will will “work parallel with Leif Johansson” until Johansson’s departure, the company said.