Martin Lundstedt is the President and CEO of AB Volvo (Volvo Group), one of the world’s largest manufacturers of trucks, buses, construction equipment, and marine and industrial engines. Appointed in October 2015, Lundstedt has led the Volvo Group through a decade of transformation, championing electrification, automation, and connectivity as the pillars of a sustainable transport future. Born on April 28, 1967, in Mariestad, Sweden, he holds dual Master of Science degrees from Chalmers University of Technology and Imperial College London. Before joining Volvo, Lundstedt spent 23 years at rival truck maker Scania, ultimately serving as its President and CEO. Under his leadership, Volvo Group has committed to achieving net-zero greenhouse gas emissions across its entire value chain by 2040.
Read on to discover Martin Lundstedt’s net worth in 2026, Volvo Group CEO salary and compensation, career history, education, personal life, and more.
Martin Lundstedt — Quick Facts
| Martin Lundstedt — At a Glance | |
|---|---|
| Full Name | Martin Lundstedt |
| Position | President & Chief Executive Officer |
| Company | AB Volvo (Volvo Group) (STO: VOLV B) |
| Date of Birth | April 28, 1967 |
| Age | 58 years (as of March 2026) |
| Birthplace | Mariestad, Sweden |
| Education | M.Sc. Industrial Economics, Chalmers University of Technology; M.Sc. Mechanical Engineering, Imperial College London |
| Net Worth (2026 est.) | ~$13 Million |
| Total Compensation | ~SEK 70M (~$6.5M) per year |
| CEO Since | October 22, 2015 |
| Previous Role | President & CEO, Scania AB |
| Email (Investor Relations) | [email protected] |
| Headquarters | Gothenburg, Sweden |
Early Life & Education
Martin Lundstedt was born on April 28, 1967, in Mariestad, a small town in Vastra Gotaland County, Sweden. Growing up in an entrepreneurial family — both his paternal and maternal grandparents ran their own businesses — Lundstedt developed an early fascination with industry and production processes. This upbringing instilled in him a deep respect for manufacturing and the people behind it.
Lundstedt pursued engineering at Sweden’s premier technical university, Chalmers University of Technology in Gothenburg, where he earned a Master of Science in Industrial Economics in 1991. He then continued his studies at Imperial College London in the United Kingdom, completing a Master of Science in Mechanical Engineering in 1992. This dual education gave him both the technical engineering foundation and the business management perspective that would define his career in the commercial vehicle industry.
Career History
Martin Lundstedt’s career in the commercial vehicle industry spans over three decades, beginning immediately after his graduation from Imperial College London in 1992.
Scania AB (1992-2015)
Lundstedt joined Scania AB, the Swedish premium truck and bus manufacturer (a subsidiary of Volkswagen Group), as a management trainee in 1992. Over the next 23 years, he rose through the ranks in a series of increasingly senior positions:
- 1992-2006: Various management roles spanning sales, marketing, and operations across multiple Scania divisions
- 2006: Appointed Head of Trucks Sales and Marketing, responsible for Scania’s global truck sales strategy
- 2007: Promoted to Senior Vice President of Commercial Operations, overseeing the commercial side of Scania’s business
- 2010: Named Executive Vice President of Commercial Operations, a member of Scania’s executive management team
- 2012-2015: Appointed President and CEO of Scania, the top leadership position at the company
During his tenure as Scania CEO, Lundstedt was credited with strengthening the company’s market position in Europe and emerging markets, and with advancing its sustainability initiatives.
AB Volvo / Volvo Group (2015-Present)
In October 2015, Lundstedt made the rare move of crossing over from Scania to arch-rival Volvo Group, taking the role of President and CEO of AB Volvo. In the close-knit Scandinavian heavy vehicle industry, this move was highly unusual and attracted significant attention. His appointment was seen as a major coup for Volvo Group, which gained a leader with deep industry expertise and a proven track record at a direct competitor.
Career Timeline
| Period | Role | Company |
|---|---|---|
| 1992 | Management Trainee | Scania AB |
| 1992-2006 | Various Management Roles | Scania AB |
| 2006 | Head of Trucks Sales & Marketing | Scania AB |
| 2007 | SVP Commercial Operations | Scania AB |
| 2010 | EVP Commercial Operations | Scania AB |
| 2012-2015 | President & CEO | Scania AB |
| Oct 2015-Present | President & CEO | AB Volvo (Volvo Group) |
CEO Role at Volvo Group
As President and CEO of AB Volvo, Martin Lundstedt oversees one of the world’s largest commercial vehicle and industrial equipment groups. The Volvo Group portfolio includes:
- Volvo Trucks — one of the world’s largest heavy-duty truck manufacturers
- Mack Trucks — a leading North American truck brand
- Renault Trucks — a major European truck brand
- UD Trucks — a Japanese truck brand focused on Asian markets
- Volvo Buses — a global bus and coach manufacturer
- Volvo Construction Equipment — excavators, wheel loaders, and other heavy machinery
- Volvo Penta — marine and industrial engines
- Volvo Financial Services — financing solutions for customers
Under Lundstedt’s leadership, the Volvo Group employs approximately 100,000 people across more than 190 markets worldwide. The company is headquartered in Gothenburg, Sweden, and is listed on the Stockholm Stock Exchange (Nasdaq Stockholm) under the ticker VOLV B.
Key Fact: Volvo Group (AB Volvo) and Volvo Cars are separate companies. Volvo Group makes trucks, buses, and construction equipment. Volvo Cars, which makes passenger vehicles, has been owned by China’s Geely since 2010. They share the Volvo brand name but have been separate entities since 1999.
Leadership & Achievements
During his decade-long tenure as Volvo Group CEO, Martin Lundstedt has driven several transformative initiatives:
Electrification & Decarbonization
Lundstedt has positioned Volvo Group as a global leader in commercial vehicle electrification. The company has committed to achieving net-zero greenhouse gas emissions by 2040 across its entire value chain. Under his leadership, Volvo Group has:
- Delivered more than 5,700 electric vehicles across 50+ countries since launching its first electric trucks in 2019
- Announced a breakthrough 600-kilometer range electric truck with superfast charging capability
- Adopted a three-pronged approach: battery-electric vehicles, hydrogen fuel cells, and combustion engines running on renewable biofuels
- Secured a 10-year renewable electricity partnership with Vattenfall for its Swedish operations
CES 2025 Keynote
In January 2025, Lundstedt delivered a keynote address at CES 2025 in Las Vegas, where he mapped out Volvo Group’s holistic approach to the decarbonization of transport, mobility, and infrastructure. His message was clear: “The time for talk is over. The time for action is now.”
Strategic Focus
Lundstedt has championed Volvo Group’s vision of “100% safe, 100% fossil-free, and 100% more productive” transportation. He has invested heavily in autonomous driving technology, connectivity platforms, and digital services, positioning the Volvo Group for the next generation of commercial transport.
Board Memberships & Industry Leadership
- Board Director, Autoliv Inc. — since 2021, member of the Leadership Development and Compensation Committee
- Chairman, Permobil AB — Swedish power wheelchair manufacturer
- Member, European Round Table for Industry (ERT) — a forum of leading European industrial leaders
- Member, Royal Swedish Academy of Engineering Sciences (IVA)
- Member, Foreningen Teknikforetagen i Sverige (Association of Swedish Engineering Industries)
Personal Life
Martin Lundstedt is based in Gothenburg, Sweden, where Volvo Group’s global headquarters is located. He is known for being a private person who keeps his family life out of the public eye. Details about his spouse and children are not publicly disclosed.
Lundstedt grew up in Mariestad, a small town on the shores of Lake Vanern in western Sweden. His entrepreneurial family background — with grandparents on both sides running their own businesses — shaped his understanding of industry and business from a young age.
He is known for his passion for the commercial vehicle industry and his advocacy for decarbonization and sustainable transport. Colleagues describe him as a hands-on leader who is deeply engaged with both the technical and human aspects of the business. His transition from Scania to Volvo Group — rare in the tight-knit Scandinavian truck industry — demonstrated his willingness to take bold career risks.
Martin Lundstedt Net Worth & Salary
As of 2026, Martin Lundstedt’s net worth is estimated at approximately $13 million USD, based on his disclosed Volvo AB stock holdings and accumulated compensation. He directly owns approximately 0.016% of AB Volvo’s shares, valued at roughly $8.6 million.
Volvo Group CEO Compensation Breakdown
Martin Lundstedt’s total annual compensation is approximately SEK 70 million (roughly $6.5 million USD), with the following structure:
| Component | Approximate Value | Share of Total |
|---|---|---|
| Fixed Cash Salary | SEK ~21M (~$2.0M) | ~31% |
| Variable Remuneration (Bonus) | SEK ~18M (~$1.7M) | ~26% |
| Performance Shares & Options | SEK ~26M (~$2.4M) | ~37% |
| Pension & Other Benefits | SEK ~5M (~$0.5M) | ~6% |
| TOTAL | SEK ~70M (~$6.5M) | 100% |
Key Insight: Approximately 69% of Martin Lundstedt’s compensation is performance-based (variable bonus + equity awards), with only 31% from fixed salary. This aligns with Volvo Group’s remuneration guidelines approved at the Annual General Meeting. His compensation reflects his dual role as President/CEO and Board member of one of the world’s largest commercial vehicle manufacturers.
Volvo Group Financial Summary (FY2025)
| Metric | FY2025 | FY2024 | YoY Change |
|---|---|---|---|
| Net Sales | SEK 479.2B (~$44B) | SEK 526.8B (~$50B) | ▼ -9.0% |
| Adjusted Operating Income | SEK 51.2B | SEK 65.7B | ▼ -22.1% |
| Adjusted Operating Margin | 10.7% | 12.5% | ▼ -1.8pp |
| Earnings Per Share | SEK 18.47 | SEK 24.78 | ▼ -25.5% |
| Operating Cash Flow (Industrial) | SEK 21.9B | SEK 45.3B | ▼ -51.7% |
| Return on Capital Employed | 25.5% | 35.8% | ▼ -10.3pp |
| Proposed Dividend | SEK 13.00/share | SEK 18.50/share | ▼ -29.7% |
| Net Zero Target | 2040 across entire value chain | — | |
Context: The FY2025 decline reflects normalizing market demand after the strong post-pandemic recovery cycle, combined with ongoing geopolitical challenges. Despite lower volumes, Volvo Group maintained double-digit operating margins and continued investing heavily in electrification, automation, and next-generation technologies.
How to Contact Martin Lundstedt / Volvo Group
| Volvo Group Contact Information | |
|---|---|
| Corporate HQ | AB Volvo, SE-405 08 Gothenburg, Sweden |
| Phone | +46 31 66 00 00 |
| Investor Relations Email | [email protected] |
| Website | volvogroup.com |
| Martin Lundstedt on LinkedIn | |
| Stock Exchange | Nasdaq Stockholm (VOLV B) |
Volvo Group Competitors
Volvo Group operates in the highly competitive global commercial vehicle and industrial equipment market. Key competitors include:
- Daimler Truck — world’s largest truck manufacturer (Mercedes-Benz Trucks, Freightliner, Western Star)
- TRATON Group — Volkswagen’s truck division (Scania, MAN, Navistar, Volkswagen Truck & Bus)
- PACCAR — American truck manufacturer (Kenworth, Peterbilt, DAF)
- CNH Industrial — construction and agricultural equipment (IVECO, Case, New Holland)
- Caterpillar — construction and mining equipment
- Komatsu — Japanese construction equipment manufacturer
- Deere & Company — agricultural and construction equipment
Frequently Asked Questions (FAQ)
Who is the CEO of Volvo Group?
Martin Lundstedt has been the President and CEO of AB Volvo (Volvo Group) since October 22, 2015. He oversees Volvo Trucks, Mack Trucks, Renault Trucks, UD Trucks, Volvo Buses, Volvo Construction Equipment, Volvo Penta, and Volvo Financial Services.
Is Volvo Group the same as Volvo Cars?
No, they are separate companies. Volvo Group (AB Volvo) manufactures trucks, buses, construction equipment, and industrial engines. Volvo Cars is a separate company owned by China’s Geely that makes passenger vehicles. They share the Volvo brand name but have been independent entities since 1999.
What is Martin Lundstedt’s salary?
Martin Lundstedt’s total annual compensation is approximately SEK 70 million (about $6.5 million USD), including fixed salary (~31%), variable bonus (~26%), performance shares and options (~37%), and pension/benefits (~6%). Approximately 69% of his pay is performance-based.
What is Martin Lundstedt’s net worth?
As of 2026, Martin Lundstedt’s net worth is estimated at approximately $13 million USD, based on his disclosed AB Volvo stock holdings (worth ~$8.6 million) and accumulated compensation over his decade-long tenure as CEO.
How old is Martin Lundstedt?
Martin Lundstedt is 58 years old (born April 28, 1967, in Mariestad, Sweden). He will turn 59 in April 2026.
Where did Martin Lundstedt study?
Lundstedt holds a Master of Science in Industrial Economics from Chalmers University of Technology (1991) in Gothenburg, Sweden, and a Master of Science in Mechanical Engineering from Imperial College London (1992) in the United Kingdom.
What did Martin Lundstedt do before Volvo?
Before joining Volvo Group, Lundstedt spent 23 years at Scania AB (a Volkswagen Group subsidiary and direct Volvo competitor), rising from management trainee in 1992 to President and CEO (2012-2015). His move from Scania to Volvo was considered highly unusual in the close-knit Scandinavian truck industry.
What is Martin Lundstedt’s email address?
Martin Lundstedt’s direct email is not publicly available. For investor inquiries, contact Volvo Group Investor Relations at [email protected]. The corporate phone number is +46 31 66 00 00.
Conclusion
Martin Lundstedt has established himself as one of the most influential leaders in the global commercial vehicle industry. In his decade as Volvo Group CEO, he has steered the company through market cycles while maintaining a clear strategic vision centered on electrification, sustainability, and technological innovation. His commitment to net-zero emissions by 2040, his keynote at CES 2025, and Volvo Group’s delivery of thousands of electric trucks worldwide demonstrate that he is not merely talking about the future of transport — he is actively building it. With a compensation package tied heavily to performance and a personal fortune built on AB Volvo stock, Lundstedt’s interests remain firmly aligned with those of shareholders and the long-term success of the Volvo Group.
Article last updated: March 2026
Disclaimer: All information presented in this article has been compiled from publicly available sources, including official company reports, regulatory filings, and reputable news outlets. Net worth figures are estimates and may vary by source. This content is provided for informational purposes only and does not constitute financial or investment advice.