Heléne Mellquist has been appointed President of Volvo Penta and member of the Volvo Group Management Team. Currently President for the European Division of Volvo Trucks, Mellquist began her career at the Volvo Group in 1988 and has held many senior positions at the company, as well as being the CEO at TransAtlantic AB between 2012-2015.
Heléne Mellquist will replace Björn Ingemanson, who after a long and successful career at the Volvo Group, will retire in September 2020.
The statements issued by Heléne Mellquist and Björn Ingemanson
«I feel extremely inspired to continue to develop this part of the Volvo Group together with the team at Volvo Penta», said the newly-appointed President. «With the strong product portfolio Volvo Penta has in both the industrial and marine segments, I am taking on this task with great expectations and eagerness».
«After more than 30 years at the Volvo Group and nearly nine years leading Volvo Penta, I am pleased to be handing over to a strong and dynamic leader like Heléne. I am very proud of what the Volvo Penta team has achieved both on land and at sea, and I look forward to seeing what the company delivers over the next few years», commented Björn Ingemanson.
AB Volvo: no ordinary dividend for 2019
The Board of Directors of AB Volvo has decided to withdraw the proposal to the Annual General Meeting for an ordinary dividend of SEK 5.50 (slightly more than 0,5 euro) per share and instead proposes that no dividend for 2019 will be paid.
The Volvo Group has a strong financial position. However, there is a general uncertainty created by Covid-19 and the effects on the Volvo Group from the measures taken in various countries to slow down the spread of the virus. As an effect, the Board believes that it is appropriate, as a precautionary measure, to withdraw the dividend proposal.