Tony Nicolosi named acting President and CEO, Volvo Cars of North America

Volvo Cars of North America, LLC (VCNA) named Tony Nicolosi acting President and CEO. Nicolosi, 53, who currently serves as President and CEO of Volvo Car Financial Services US, LLC (VCFS), replaces John Maloney, who has decided to leave Volvo. Nicolosi will
continue in his role with VCFS in addition to his new duties for VCNA. A permanent successor as president and CEO will be the subject of a later announcement.

"Tony has been with Volvo for 26 years, has a keen insight into the business operations and is a strong and enthused leader," said Alain Visser, Senior Vice-President Marketing, Sales and Customer Service, Volvo Car Group. "As our largest market globally, VCNA's momentum and success in the US is vital to a larger transformation taking place at Volvo."

Maloney was asked to consider a senior role in Europe which he declined for family reasons. "We would like to thank John for his tremendous contributions over the last 14 years with the company," added Visser.

VCNA also announced that Greg Swetoha, Executive Vice-President of Sales Operations, has also elected to leave Volvo. The three regional vice-presidents will now report directly to Nicolosi.

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