UPDATE 2-Volvo snubs Cevian for board, picks Autoliv CEO

Newswire

(Adds Cevian, Volvo comment, updates shares) By Simon Johnson and Johannes Hellstrom STOCKHOLM, Feb 23 (Reuters) - Sweden's Volvo , the world's No. 2 truck maker, said its election panel had proposed Autoliv Chief Executive Lars Westerberg as a new board member, ignoring the claims of shareholder and activist fund Cevian. "A majority of the Election Committee supports the proposal, and a survey among Volvo's shareholders indicates that owners representing more than 50 percent of the ...

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