kscarbel2 Posted October 9, 2015 Share Posted October 9, 2015 Goteborgs-Posten / October 2, 2015The era of free residences for AB Volvo's top executives has come to an end.This fall, the luxury villa of former Volvo CEO Olof Persson in Långedrag will be sold to the highest bidder.Volvo’s purchase of the 500 square meter luxury villa for Olof Persson brought sharp criticism when the company was in a period of financial crisis in 2011.“We have decided to sell the villa where Olof Persson lives...........we will not offer residencies in the future, said Kina Wileke, press manager at AB Volvo.Persson's villa on the Defence Road was purchased for SEK 30 million (US$ 3.6 million).Under the terms of his contract, ousted Volvo CEO Olof Persson can remain in the villa until the spring of 2016. But he has announced that he will be moving this autumn.Volvo’s new incoming CEO Martin Lundstedt, who starts his new job on October 22, will reside in his own apartment in Gothenburg.He also retains his own house in Stockholm, where he has resided during his 25-year tenure at truckmaker Scania in nearby Sodertalje.. Quote Link to comment https://www.bigmacktrucks.com/topic/42114-volvo-group-to-sell-ousted-ceo%E2%80%99s-luxury-villa/ Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.