Word: skandia
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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...
...came to Volvo without any experience in manufacturing of any kind. He studied at both the University of Lund and London University, spent five months in 1960 with a law firm in Manhattan, then joined a small Swedish insurance company. He later followed his father as managing director of Skandia, Sweden's largest insurer. He is married to the daughter of the former Volvo chief executive, but no one in the company doubts that Gyllenhammar would have made it to the top without his family ties. Generally acknowledged as the country's brightest young business leader, he works...