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Martin Weissburg, currently the president of Volvo Financial Services (VFS), will be the next president of Volvo Construction Equipment.
Near the end of October it was announced that current Volvo CE president Pat Olney is leaving the company at the end of the year. Olney has been named as the next chief operating officer of TRW Automotive.
“It is with great pride and excitement that I take on this new position within the Volvo Group,” Weissburg, 51, said in a prepared statement. “During my time as President of VFS, I have worked with very close ties to Volvo CE and I look forward to driving and developing the Volvo CE business in all markets and customer segments.”
Weissburg, has been the president of VFS since 2010. Before taking that position, he served as the president of VFS Americas for five years.
Citing his close working relationship with Volvo CE dealers during his time at VFS, Volvo CE says Weissburg is the right man for the job due to his in-depth knowledge of the construction equipment business.
Plus, Weissburg’s experience with construction equipment started well before he joined Volvo. His first job after graduating with an MBA in international business from George Washington University was as a marketing management trainee with Caterpillar. He was also the president at Great Dane Financial and the Woodard manufacturing company.
“During his time with VFS, Martin has proven to be a strong and dynamic leader who has taken VFS to higher levels,” Volvo Group president and CEO Olof Persson said in a prepared statement. “He is a proven operational expert who drives efficiencies and profitable growth, as well as develops talent and internal culture, and I am certain that he will continue to deliver very well as in his new role”.
VFS has begun its search for a replacement for Weissburg.