Haldex Hires Former Volvo Cars Exec as CEO

Sweden's Haldex AB has named Bo Annvik, a former Volvo Cars executive, to become its president and CEO on July 1.

Annvik will succeed Ulf Ahlen, who will retire after 15 year as a senior executive of the maker of brake, suspension and all-wheel-drive systems. Ahlen became acting CEO on Dec. 1 when Jay Longbottom stepped down.

Annvik was most recently an executive vice president at steelmaker Outokumpu Group. He previously worked for auto supplier SKF and held several jobs at Volvo Cars, including head of North American product planning and business development.