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Peter Karlsten will become the new president of Volvo Trucks North America on Oct. 1, the company said Monday. He succeeds Michel Gigou, whose foreign service contract expires at yearend, Volvo said, when he will return to Europe.

Karlsten, 46, has been president of Volvo Trucks in Brazil since 2001. In his new position, Karlsten will report to Volvo Truck Corp. President Jorma Halonen.

Greensboro, N.C.-based Volvo Trucks North America manufactures commercial trucks, along with diesel engines and suspensions.

Gigou, who was previously president of VTNA sister company Mack Trucks Inc., will remain in the U.S. and continue to serve as chairman of Mack until the end of the year, Volvo said. He has been president of Volvo Trucks North America since July 1, 2001.

The company also said Gigou would be responsible through yearend for common corporate functions that support both Mack and Volvo, including manufacturing, finance, customer satisfaction, parts sales and marketing, communications and some other operations.

VTNA and Mack are part of Volvo Group, Gothenburg, Sweden.

( for the full press release.)

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