To strengthen the profile of Volvo CE Rents and make the company more independent from Volvo Construction Equipment, Volvo Rents will become a subsidiary to AB Volvo and will no longer be a part of Volvo Construction Equipment.
According to a company release, Volvo CE Rents will play an increasingly important role in securing sales during the North American economic upturn, and the company is embarking on a new course where it will not only run a franchise network of rental stores, but will also run company-owned stores.
Whether the store will be franchise-owned or Volvo-owned depends on the given circumstances in the market.
Scott Hall has been appointed president and CEO of Volvo Rents, which will also be the new name of the company. Hall will report to the chairman of the Volvo Rents Board, Mikael Bratt, CFO of AB Volvo, and will be headquartered in Shippensburg, Pa.
Barry Natwick will be Chief Operating Officer of Volvo Rents, reporting to Scott Hall.