Volvo AB CEO Leif Johansson will resign from his position next summer, Bloomberg reported Wednesday.
Johansson, 59, has been CEO since 1997. He orchestrated Volvoâ€™s sale of its car making unit in 1999 as well as its acquisitions of Renault Trucks, Mack Trucks, Nissan Diesel and Ingersoll-Randâ€™s road construction machinery unit, Bloomberg said.
When he resigns, Johansson will not seek another CEO position, Volvo said in a statement, though he may seek positions on other boards.
Volvo will immediately begin searching for a new CEO, it said. Volvo AB is the parent company of Volvo Trucks North America and Mack Trucks.
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