The board of directors of heavy-truck and construction-equipment powerhouse Volvo tells incoming CEO Olof Persson that profitability, rather than growth, is the company's main priority. “While growth will remain important in the future, the board is of the opinion that the prerequisites are now in place to also set new profitability targets for the company and its new CEO,” says Chairman Louis Schweitzer, the former chief of Renault. Volvo had been operating with targets established in ...

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