Volvo 2014 Annual Report Download - page 95
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Signifi cant events 2014
In March, the Volvo Group decided to sell non-strategic real estate, mainly located in
Göteborg, for a purchase consideration amounting to approximately SEK 2 billion.
A review of what is core and non-core in the Group’s IT operations was initiated during
autumn.
In November, it was decided that Volvo Construction Equipment shall discontinue product
development and production of backhoe loaders and motor graders in Europe and
Americas and transfer these operations to its Chinese company, SDLG.
Higher ambition in structural cost-reduction efforts and increased expected restructuring
charges in the Strategic Program 2013–2015 were communicated during fall.
A hybrid bond was issued in December via Volvo Treasury AB amounting to EUR 1.5 billion.
A reorganization of the truck sales operation was implemented as from January 1, 2015,
entailing a merger of the previous three trucks sales and market regions into one sales
organization.
As a result of the reorganization of the truck sales operation but also with the aim of
creating a smaller and more effi cient management team, the number of members of
Volvo’s Group Executive Team was reduced from 16 to 10 as from January 1, 2015.
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