Volvo said that Mr Olney, aged 44, had cited personal reasons for wanting to relocate from Sweden to North America. A Canadian, he is joining a non-competing, large engineering company based in the USA, Volvo said, but will remain in his present position with the Swedish company until year end.
Mr Olney joined Volvo CE in 1996 and has held a number of top management positions in finance, operations and general management before becoming president in May 2011.
“I have had a long and rewarding career with Volvo, and for that I will always be grateful,” he said. “As such, this was not an easy decision. I have had the ambition to relocate at some point to North America and this opportunity was simply too good to pass up.”
Volvo Group president and CEO Olof Persson said: “Pat has done an excellent job during his career with Volvo I regret that he has decided to leave Volvo. At the same time I fully understand and respect his desire to move to North America for professional and personal reasons.”
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