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Ford names president, CEO of Volvo Cars

Ford Motor Co. has appointed Fredrik Arp as CEO and president of Volvo Cars Corp., succeeding Hans-Olov Olsson, who becomes chairman of the board of Volvo Cars.

Arp most recently served as president and CEO of Trelleborg AB, a Sweden-based global auto industry supplier specializing in advanced polymer technologies. His and Olsson's appointments become effective October 1.

Arp will report to Mark Fields, Ford's executive vice president, Premier Automotive Group and Ford of Europe.