During 2001 - 2004 Mr Olney was the CFO of Volvo CE, and was then appointed president of Volvo Motor Graders, a position he held until becoming president of Volvo Road Machinery in 2007.

Since 2009 he has been executive vice president and head of operations at Volvo CE. This position includes all global manufacturing as well as global purchasing.

The search for a replacement to Mr Olney has begun and in the interim Jean-Marcdes Courieres will serve as the acting head of operations.

The Volvo Group is a provider of commercial transport solutions, providing such products as trucks, buses, construction equipment, engines and drive systems for boats and industrial applications, as well as aircraft engine components.

Olof Persson who leaves Volvo CE May 1, 2011 to take up a new position as deputy CEO of AB Volvo and the role as president and CEO of AB Volvo as of September 1, 2011, said: “I am very pleased with Pat Olney as my successor.

“He has a long and extensive experience in the construction Equipment industry and has been instrumental in putting Volvo CE’s new strategy in place. He has delivered very well as executive vice president of global operations and in his previous positions.”

Mr Olney said: “This is an exciting time in our industry and in Volvo CE in particular. I am honored to have the opportunity to continue the implementation of our Fit for the Future strategy which has been very successful so far.”

Will Mr Olney's experience benefit the firm?

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