Leif Östling’s contract extended
Scania’s Board of Directors has extended the President and CEO Leif Östling’s employment contract by three years, until 31 March 2012. The terms and conditions of the new contract will remain essentially the same as in the current contract
The Board of Directors said in a statement they believe that the extension of President and CEO Leif Östling’s employment contract will secure stability and continuity for Scania, to the benefit of all shareholders.
Ostling lead the fight to stop the takeover of Scania by Volkswagen and it was widely believed he would move on as Scania, MAN and VW integrated manufacturing to gain the claimed 1 billion Euros savings from synergies within the three commercial vehicle operations.
