Thursday 20 June 2013

Volvo Cars appoints new finance chief

Jan Gurander, chief financial officer of Volvo Car Group (Volvo Cars) since 2011, has elected to leave Volvo Cars.

Hans Oscarsson has been appointed as his successor, effective August 1. Hans Oscarsson is currently Deputy CFO and Operation Controller at Volvo Cars.

This is the second time in the space of a few weeks that Volvo Cars has made major changes in its top management – see our story of 28 May 2013: Volvo Car joins up manufacturing and purchasing.

It seems that following its sale by Ford Motor Company, Volvo Cars has under the leadership of Jan Gurander built up a finance function that meets the reporting and controlling requirements for an independent company.

The company's accounting function has been strengthened, IFRS accounting standards have been implemented and a treasury function has been established. The company also signed a number of strategically-important financing agreements with Chinese and international banks.

"During over two years at Volvo Cars, Jan has created the conditions for long-term stability amidst a complex environment, and we thank Jan for his excellent efforts," claimed Håkan Samuelsson, president and chief executive officer of Volvo Cars. "We now have a finance function that guarantees on-going continuity."

Oscarsson has worked within Volvo Cars since 1990. The company points out that he has thorough experience as a controller and as chief financial officer in both national sales companies as well as in several central functions.

Perhaps significantly, Oscarsson acted as temporary CFO for Volvo Cars during 2010-2011 and as such fulfilled a key role during Zhejiang Geely Holding's acquisition of Volvo Cars.

"Oscarsson's broad experience within Volvo Cars and his efforts during different phases of the company's history make him highly suitable to take over the CFO position," added Samuelsson.                                           


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