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Vic Doolan announces retirement after leading Volvo Cars to records in North America

Victor H. Doolan announced today that he will retire after 30 months at the helm of Volvo Cars of North America (VCNA), the largest sales market of Volvo Car Corporation (VCC), Sweden During his tenure, Mr. Doolan managed the U.S. operations through extensive periods of continuous growth ? one stretch of improved sales reaching 17 months in a row. In 2003 Volvo established new sales records, and current year sales are ahead of that pace year-to-date. Mr. Doolan presided over the North American launch of the Volvo XC90, the company’s first SUV. The XC90 has become the most heralded vehicle in Volvo’s history, having garnered more than three dozen awards globally – most of which were in the United States. Volvo’s first true performance vehicles, the S60 R and wagon variant V70 R, were also rolled out during Mr. Doolan’s watch, as well as the recently introduced class-leading new Volvo S40 and sports activity wagon counterpart, the new V50. “We’ve come a long way toward making Volvo the brand that offers styling, performance and excitement, in addition to our core values of environmental care and safety,” says Doolan. “We entered segments that were new for us,?but we did it the ‘Volvo way,’ ” he said. A noteworthy corporate initiative that took flight during the past few years is the much-talked about Volvo for Life Awards. The premise of ‘ordinary people doing extraordinary things’ hits home with Volvo’s brand values. The program seeks out local heroes and recognizes them at an annual awards event, the grand prize being a Volvo, for life. “I firmly believe no other brand could do what we’ve established, with it being such a perfect fit,” Doolan says. “We’ve engaged all parts of the organization, including retailers, in finding and promoting individuals who have truly made a difference in the lives of others. This is rewarding and important, for all of us,” he said. Hans-Olov Olsson, president and CEO, Volvo Car Corporation (VCC) in Sweden, acknowledged Doolan for his contributions and accomplishments and announced Anne Belec, currently Vice President of Sales Operations at VCC, as Doolan’s successor. “Vic has put in place an admirable foundation from which to build, and it will not be easy to fill his shoes,” said Olsson. “We feel Anne’s successes in a broad range of business areas, and her skills in brand management and organizational leadership will substantially contribute to her maintaining VCNA?s volume growth, profitability and Volvo?s brand development in North America,? he said. Prior to being her position as VP of Sales Operation at Volvo Car Corporation, Ms. Belec held a variety of leadership positions in brand management, marketing, and sales and service with Ford Motor Company. Creativity, efficiency, effective delivery and building strong dealer relationships have been ubiquitous characteristics during her illustrious career. Ms. Belec will join VCNA January 3, 2005. Mr. Doolan will remain President and CEO through a transition period until his retirement date, effective the end of March 2005. VCNA, part of the Volvo Car Corporation of Gothenburg, Sweden, provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States, and oversees Volvo operations in Canada, Mexico and Puerto Rico.

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