Additional Scania Manager Appointed to the Truck Board of Volkswagen Truck & Bus Holding

Scania  (STO:SCVA) (STO:SCVB):

Lars Stenqvist, Senior Vice President and head of Vehicle Definition at Scania, has been appointed Head of Research and Development at Volkswagen Truck & Bus GmbH, the Volkswagen Group’s holding company for the medium and heavy truck and bus brands. As previously announced, Scania's President and CEO Per Hallberg is member of the holding company's Board of Management.

Lars Stenqvist, born in 1967, joined Scania in 1992 after graduating as an engineer at Chalmers University of Technology in Sweden. He began his Scania career by working at several of the company’s production units. From 2002 to 2004, he served as Head of Scania’s chassis assembly operations in the Netherlands. Since 2004, Stenqvist has worked within the company’s research and development operations. In 2007 he was appointed Senior Vice President and Head of Vehicle Definition.

"By taking advantage of the combined expertise of Scania, MAN and Volkswagen, I am convinced that we will also create synergies in research and development and strengthen the individual brands' market position,” says Stenqvist.

The Scania Research and Development Centre in Södertälje, Sweden, with almost 4,000 employees, is a core pillar in the network of R&D locations in Volkswagen Truck & Bus GmbH. Other cities are Munich in Germany and São Paulo in Brazil. The head office of Volkswagen Truck & Bus is located in Brunswick, Germany.

The Board of Management consists of Andreas Renschler, CEO, Matthias Gründler, CFO, Antonio Roberto Cortes, CEO MAN Latin America, Joachim Drees, CEO MAN Truck & Bus as well as Per Hallberg, President and CEO Scania. In addition, the cross-divisional cooperation is headed up by Ulf Berkenhagen (Purchasing), Anders Nielsen (Business Development), Josef Schelchshorn (Human Resources) and Lars Stenqvist (Research and Development).

The individual brand’s employees are represented on the Supervisory Board of the Volkswagen Truck & Bus GmbH. Scania is represented by Johan Järvklo and Lisa Lorentzon.

"I am very satisfied with the composition of my team and I look forward to our work on creating a global champion in the commercial vehicle market,” said

Andreas Renschler today when he presented his management team.

Scania is one of the world’s leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. Service-related products account for a growing proportion of the company’s operations, assuring Scania customers of cost-effective transport solutions and maximum uptime. Scania also offers financial services. Employing some 42,000 people, the company operates in about 100 countries. Research and development activities are concentrated in Sweden, while production takes place in Europe and South America, with facilities for global interchange of both components and complete vehicles. In 2014, net sales totalled SEK 92.1 billion and net income amounted to SEK 6 billion. Scania’s press releases are available on www.scania.com (http://www.scania.com/se)

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