Volvo 2015 Annual Report Download - page 81

THE THIRD QUARTER THE FOURTH QUARTER
approximately SEK 2.2 billion. The sale generated a capital gain
of SEK 2,137 M, which impacted operating income in the Trucks
segment in the second quarter of 2015.
New CEO of the Volvo Group
On October 22, 2015 Martin Lundstedt, 47, assumed the position
of President and Chief Executive Officer of the Volvo Group. His
most recent role was as President and CEO of the Scania Group.
The decision to appoint Martin Lundstedt as the new President
and Chief Executive Officer was taken in April by the Board of
Directors of AB Volvo.
Volvo wins arbitration case
The Volvo Group won a case in the Arbitration Tribunal relating to
defective components. The deliveries were made several years ago
and the problem was corrected in the production process many
years ago. The outcome had a positive impact of SEK 809 M on
the Volvo Group’s operating income in the fourth quarter 2015.
Divestment of IT business and outsourcing of IT
infrastructure operations
The Volvo Group announced on October 20, the intention to
divest its external IT business and to outsource IT infrastructure
operations to HCL Technologies. On February 16, 2016 a final
agreement was signed. The transaction is expected to be imple-
mented on March 31, 2016 and will provide both cost savings and
a capital gain of approximately SEK 900 M.
03/07/2015 Invitation to the Volvo Group report on the first six months 2015
09/07/2015 First students to graduate from Volvo’s vocational training school
in Ethiopia 17/07/2015 Volvo Group – the second quarter 2015 31/07/2015
New number of votes in AB Volvo 20/08/2015 Truck deliveries in July 2015
27/08/2015 Semi-Annual Report of Volvo Treasury AB (publ) 10/09/2015
The Volvo Group qualifies for the Dow Jones Sustainability World Index (DJSI)
11/09/2015 Future changes to Volvo Group’s management 16/09/2015
Refuse truck driver is supported by robot 17/09/2015 Truck deliveries in
August 2015 22/09/2015 One of Sweden’s hottest artists performs surprise
gig to promote new electric bus route 24/09/2015 Zara Larsson performs
new song in a video recorded on Gothenburg’s electric bus route 26/09/2015
Electric buses can save millions of kronor for society and the environment
30/09/2015 New number of votes in AB Volvo
01/10/2015 ElectriCity’s campaign featuring Zara Larsson and Seinabo Sey
reaches 2.5 million views 09/10/2015 Invitation to press and analyst confer-
ence in Stockholm 20/10/2015 Volvo intends to divest external IT business
and outsource IT infrastructure operations to HCL Technologies 21/10/2015
Atmospheric detective receives Volvo Environment Prize award for 2015
23/10/2015 Volvo Group – the third quarter 2015 10/11/2015 Volvo wins
arbitration case concerning defective components 19/11/2015 Truck deliver-
ies in October 2015 17/12/2015 Truck deliveries in November 2015
18/12/2015 Upcoming changes to Volvo Group’s Management 30/12/2015
New number of votes in AB Volvo
EVENTS AFTER BALANCE SHEET DATE
On January 27, 2016 changes to Volvo’s Group Executive Board
and truck organization with clearer commercial accountability
were announced. The Volvo Group will effective March 1, 2016
introduce a brand-based organization with clearer commercial
accountability for the Group’s various truck brands. Four separate
units will be created: Volvo Trucks, UD Trucks, Renault Trucks and
Mack Trucks, each with profit and loss responsibility for their
respective business. Volvo Group will comprise ten business
areas: Volvo Trucks, UD Trucks, Mack Trucks, Renault Trucks,
Value Truck & JV:s, Volvo Construction Equipment, Volvo Buses,
Volvo Penta, Governmental Sales and Volvo Financial Services.
Volvo’s Group Executive Board will be changed to include repre-
sentatives from some of the Group’s business areas.
More information is available at www.volvogroup.com
GROUP PERFORMANCE BOARD OF DIRECTORS’ REPORT 2015 SIGNIFICANT EVENTS
79