Volvo’s chief executive officer resigns

Volvo AB’s chief executive officer, Leif Johansson, will resign in summer 2011 after 14 years with the company.

Johansson, 59, says he plans to leave Volvo and will not take a CEO position at another company. He says he will also leave Volvo’s board when he steps down but may consider other board assignments.

Before working at Volvo, Johansson worked at Electrolux AB, a household appliance maker, for 13 years.