Promising Q1 as Volvo’s Persson departs

News of the departure of AB Volvo's Chief Executive Olof Persson stole the spotlight at the company's quarterly results conference, which kicked off with an explanation by Chairman Carl-Henric Svanberg on why a new leader was needed and the reason for bringing in Martin Lundstedt. As of October, it will fall to Lundstedt to steer the company through continued challenges in Latin America and to maintain the promising momentum emerging from North America and Europe.