AB Volvo Management

Management criteria checks 4/4

AB Volvo's CEO is Martin Lundstedt, appointed in Oct 2015, has a tenure of 8.58 years. total yearly compensation is SEK58.11M, comprised of 30.1% salary and 69.9% bonuses, including company stock and options. directly owns 0.014% of the company’s shares, worth CZK177.50M. The average tenure of the management team and the board of directors is 6.3 years and 8.1 years respectively.

Key information

Martin Lundstedt

Chief executive officer

kr58.1m

Total compensation

CEO salary percentage	30.1%
CEO tenure	8.6yrs
CEO ownership	0.01%
Management average tenure	6.3yrs
Board average tenure	8.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Martin Lundstedt's remuneration changed compared to AB Volvo's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	kr51b
Dec 31 2023	n/a	n/a	kr50b
Sep 30 2023	n/a	n/a	kr44b
Jun 30 2023	n/a	n/a	kr39b
Mar 31 2023	n/a	n/a	kr39b
Dec 31 2022	kr58m	kr17m	kr33b
Sep 30 2022	n/a	n/a	kr34b
Jun 30 2022	n/a	n/a	kr33b
Mar 31 2022	n/a	n/a	kr31b
Dec 31 2021	kr49m	kr16m	kr33b
Sep 30 2021	n/a	n/a	kr34b
Jun 30 2021	n/a	n/a	kr33b
Mar 31 2021	n/a	n/a	kr23b
Dec 31 2020	kr44m	kr15m	kr19b
Sep 30 2020	n/a	n/a	kr17b
Jun 30 2020	n/a	n/a	kr19b
Mar 31 2020	n/a	n/a	kr30b
Dec 31 2019	kr52m	kr15m	kr36b
Sep 30 2019	n/a	n/a	kr32b
Jun 30 2019	n/a	n/a	kr32b
Mar 31 2019	n/a	n/a	kr30b
Dec 31 2018	kr43m	kr15m	kr25b
Sep 30 2018	n/a	n/a	kr27b
Jun 30 2018	n/a	n/a	kr25b
Mar 31 2018	n/a	n/a	kr22b
Dec 31 2017	kr44m	kr13m	kr20b

Compensation vs Market: Martin's total compensation ($USD5.29M) is about average for companies of similar size in the CZ market ($USD4.38M).

Compensation vs Earnings: Martin's compensation has been consistent with company performance over the past year.

CEO

Martin Lundstedt (56 yo)

8.6yrs

Tenure

kr58,105,000

Compensation

Mr. Martin Lundstedt, M.Sc., has been an Independent Director at Autoliv, Inc. since May 12, 2021. He has been the Chief Executive Officer, President and Member of the Group Executive Board at AB Volvo (pu...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Martin Lundstedt	CEO, President	8.6yrs	kr58.11m	0.014% SEK 177.5m
Mats Backman	Executive VP of Group Finance	less than a year	no data	no data
Joachim Rosenberg	Executive VP of Strategic Initiatives	12.3yrs	no data	0.014% SEK 173.4m
Kina Wileke	Executive VP of Group Communication & Member of the Group Executive Board	6.3yrs	no data	0.0014% SEK 17.8m
Bruno Blin	Executive VP of Volvo Group	8.2yrs	no data	0.0024% SEK 30.5m
Scott Rafkin	Executive VP	4.3yrs	no data	0.0028% SEK 35.2m
Roger Alm	Executive VP	5.3yrs	no data	0.00041% SEK 5.1m
Andrea Fuder	Chief Purchasing Officer	7.3yrs	no data	0.0039% SEK 48.4m
Lars Stenqvist	CTO, Executive VP of Group Trucks Technology & Member of the Group Executive Board	7.6yrs	no data	0.0026% SEK 32.2m
Melker Jernberg	Executive VP	6.3yrs	no data	0.0026% SEK 32.6m
Diana Niu	Member of Group Executive Board and Executive VP of Group People & Culture	5.3yrs	no data	0.0032% SEK 40.0m
Jens Holtinger	Executive VP of Group Trucks Operations & Member of Group Executive Board	3.6yrs	no data	0.0015% SEK 18.5m

6.3yrs

Average Tenure

55.5yo

Average Age

Experienced Management: VOLVB's management team is seasoned and experienced (6.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Martin Lundstedt	CEO, President	8.1yrs	kr58.11m	0.014% SEK 177.5m
Martha Brooks	Independent Director	3.2yrs	no data	0.00052% SEK 6.5m
Kurt Jofs	Independent Director	3.9yrs	no data	0.0027% SEK 32.9m
Matti Alahuhta	Independent Director	10.1yrs	no data	0.0072% SEK 89.2m
Helena Stjernholm	Director	8.1yrs	no data	0.11% SEK 1.3b
Paul Vikner	Vice Chairman - Mack Trucks Inc	16.1yrs	no data	no data
Par Boman	Chairman	less than a year	no data	no data
Martina Merz	Independent Director	9.1yrs	no data	0.00032% SEK 4.0m
Jan Carlson	Independent Director	2.1yrs	no data	0.0021% SEK 25.5m
Kathryn Marinello	Independent Director	10.1yrs	no data	no data
Lars Ask	Employee Representative Director	8.1yrs	no data	0.000010% SEK 124.3k
Eric Elzvik	Independent Director	6.1yrs	no data	0.00037% SEK 4.6m

8.1yrs

Average Tenure

63.5yo

Average Age

Experienced Board: VOLVB's board of directors are considered experienced (8.1 years average tenure).

AB Volvo Management

Management criteria checks 4/4

Key information

Recent management updates

Director recently bought Kč678m worth of stock

AB Volvo (publ), Annual General Meeting, Mar 27, 2024

AB Volvo Announces Board Changes

AB Volvo (Publ) Announces Executive Changes, Effective December 1, 2023

Volvo Chairman Carl-Henric Svanberg Declines Re-Election

Volvo Group Appoints Mats Backman as New Member of Volvo Group's Executive Board

Recent updates

AB Volvo (Publ) Approves Ordinary Dividend

AB Volvo (Publ) Proposes Extra Dividend

AB Volvo (Publ) Proposes Extra Dividend

Director recently bought Kč678m worth of stock

AB Volvo (publ) (OM:VOLV B) completed the acquisition of Powered Business of Proterra Operating Company.

Volvo Group Proposes an Extra Dividend

AB Volvo (publ) to Report Fiscal Year 2023 Final Results on Feb 29, 2024

AB Volvo (publ) (OM:VOLV B) made a bid to acquire battery business of Proterra Operating Company, Inc. for approximately $210 million,

Third quarter 2023 earnings released

AB Volvo (publ), Annual General Meeting, Mar 27, 2024

AB Volvo Announces Board Changes

AB Volvo (Publ) Announces Executive Changes, Effective December 1, 2023

Volvo Chairman Carl-Henric Svanberg Declines Re-Election

AB Volvo (publ) to Report Q2, 2023 Results on Jul 19, 2023

Volvo Group Appoints Mats Backman as New Member of Volvo Group's Executive Board

Volvo Group Launches World's First Electric Truck Safety App with AR Technology for First Responders

AB Volvo (Publ) Announces Management Changes

AB Volvo (Publ) Appoints Stephen Roy as New Member of the Volvo Group Executive Board and President of Mack Trucks, Effective from June 1, 2023

Full year 2022 earnings released: EPS: kr16.10 (vs kr16.13 in FY 2021)

AB Volvo (Publ) Announces Resignation of Tina Hultkvist as Member of the Executive Board

Volvo Group Proposes Extra Dividend for the Year 2022

AB Volvo (publ) to Report Fiscal Year 2022 Results on Feb 28, 2023

Zhejiang Geely Holding Group agreed to acquire 33% stake in Powertrain Engineering Sweden AB from AB Volvo (publ) (OM:VOLV B).

Volvo Group Reportedly Considering Selling Some of Its Russian Business

AB Volvo (publ) to Report Q3, 2023 Results on Oct 18, 2023

Volvo Trucks Starts Series Production of Heavy Electric Trucks

Volvo's Group Appoints Nina Aresund as Executive Board

Jan Gurander to Step Down as Volvo Group Deputy CEO

Second quarter 2022 earnings released

Investor sentiment deteriorated over the past week

Volvo Trucks Showcases New Zero-Emissions Truck

Volvo Trucks Showcases New Zero-Emissions Truck

Volvo Trucks to Use Fossil-Free Steel in Its Trucks

AB Volvo Approves Dividend

Upcoming dividend of kr13.00 per share

AB Volvo (Publ) Proposes Payment of an Extra Dividend Payable on April 13, 2022

AB Volvo (Publ) Proposes Payment of an Ordinary Dividend, Payable on April 13, 2022

Eckhard Cordes, Independent Director, Not to Stand for Re-Election at the Annual General Meeting of AB Volvo (publ)

AB Volvo (publ) Announces CFO Changes, Effective March 15, 2022

Volvo Group Proposes Extra Dividend for the Full Year of 2021

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Volvo Announces First Independent Energy Efficiency Test with A Fully Loaded Heavy-Duty Electric Volvo Truck

Third quarter 2021 earnings released: EPS kr3.47 (vs kr2.82 in 3Q 2020)

CEO, President recently bought Kč4.9m worth of stock

Executive VP recently bought Kč5.6m worth of stock

AB Volvo (Publ) Approves Extra Distribution

Volvo Group Develops Its Own Pathway Towards the 1.5C Target for Trucks and Buses

AB Volvo (publ) Proposes Distribution of the Proceeds from the Sale of UD Truckare

Executive VP recently bought Kč7.3m worth of stock

AB Volvo (publ) (OM:VOLV B) signed definitive agreement to acquire 60% stake in Designwerk Technologies AG.

Independent Director has left the company

AB Volvo (Publ) Approves Extraordinary Dividend

Upcoming dividend of kr15.00 per share

Volvo Autonomous Solutions Forms Partnership with Foretellix

Daimler Truck AG and the Volvo Group Complete Creation of Fuel-Cell Joint Venture: Cellcentric

James W. Griffith Not to Stand for Re-Election as Board Member at AGM of AB Volvo

Full year 2020 earnings released: EPS kr9.50 (vs kr17.64 in FY 2019)

Revenue beats expectations

Lannutti Group Purchases 1,000 Volvo Trucks with Latest Fuel Saving Technology

The Volvo Group Appoints Anna Westerberg as New President Volvo Buses and Member of Volvo Group Management, Effective February 1, 2021

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure