BP’s Svanberg to Take Over as Volvo Chairman, SvD Reports

BP Plc (BP/) Chairman Carl-Henric Svanberg will be named chairman of Swedish truckmaker Volvo AB (VOLVB) within a few weeks, replacing Louis Schweitzer, Svenska Dagbladet reported today, citing several people familiar with the matter.

Volvo’s two dominating owners, Industrivaerden AB and Renault SA (RNO) have agreed on the shift, the newspaper said.

Schweitzer, 69, in March said he wants to stay as chairman until 2013, when he intends to step down.

To contact the editor responsible for this story: Kim McLaughlin at kmclaughlin6@bloomberg.net

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