Word: gyllenhammar
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Dates: during 1970-1979
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...first glance, a review of Pehr Gyllenhammar's meteoric career suggests that he rose to the top because he has the right relatives. In 1969, at the age of 34, the trim, handsome lawyer replaced his father as head of Skandia, Sweden's largest insurance company. Two years later he succeeded his father-in-law as managing director of Volvo, the country's biggest industrial concern. Nepotism or not, the selection has certainly paid off. Under Gyllenhammar's leadership, Volvo has not only increased its sales by 70% (to more than $2 billion...
...Gyllenhammar has skippered Volvo with the same assurance with which he pilots his 31-ft. sloop Amanda III. Almost immediately after taking over, he replaced a centralized management structure with four semiautonomous divisions, each of which is responsible for its own profits. He also expanded production of trucks, marine and industrial engines and other products to a point where they account for 43% of Volvo's sales. Pretax profits reached $90 million during the first half of this year, despite a 19% decline in U.S. sales of Volvo cars...
Volvo President Pehr Gyllenhammar, the jaunty 38-year-old lawyer who took over command of Sweden's biggest industrial concern (annual sales: $1.5 billion) from his father-in-law in January 1973, insisted that his company had been considering the U.S. plant for many months and had not been influenced by the current world monetary disarray. However, Volvo may well profit from the money tangle. As the value of many currencies (including Sweden's krona) has continued to rise against the dollar−and as foreign labor costs have continued to mount−the once huge gap between...
...dead. We are in a situation of haphazardly controlled free trade. If Texas cattle imports seriously disrupted the outdated European agricultural system, no Texas cattle would be allowed into Europe. If Japanese shipyards threaten American shipyards, ways will be found to protect the American yards." Sweden's Pehr Gyllenhammar, president of Volvo, agreed that it is uncomfortable to be invaded by the products of a country that has a keener competitive edge. "But," he asked, "will the U.S. recognize that because of its loss of competitive ability, it will continue to be invaded by the Japanese and others...
...Willard C. Butcher, Chase Manhattan Corp.; Louis Camu, Banque de Bruxelles; Alain Chevalier, Moet-Hennessy; Dr. F. Wilhelm Christians, Deutsche Bank; Fernand Josef Collin, Kredietbank, N.V.; Dr. Paul Dax, Siemens; Sir Eric Drake, British Petroleum; Baron Edouard-Jean Empain, Electrorail; Nils Foss, F.L. Smidth & Co.; Pehr G. Gyllenhammar, Volvo; Alfred H. Heineken, Heineken, N.V.; Belton K. Johnson, King Ranch; Dr. Konrad...