In a planned succession, Volvo Financial Services announced that Martin (“Marty”) Weissburg will become President and CEO of Volvo Commercial Finance (VCF), its North American captive finance company. Weissburg succeeds Jim Ryan who is retiring. Weissburg will take up his position on September 19 of this year.
Weissburg has broad experience in equipment and commercial finance. Previously, he was President of Great Dane Financial and a Senior VP of Orix Financial. He also worked in capital markets for Heller Financial and held positions with Caterpillar in the construction equipment and finance areas. Weissburg holds a bachelor’s degree in management from Purdue and an MBA from George Washington University.
Weissburg will report to VFS President & CEO Sal Mauro, who said, “We are delighted that Marty will be leading our growing North American operations. He is eager to align Volvo Commercial Finance closer with its Volvo and Mack-branded dealers and customers. Marty also understands the vital and demanding role which a captive finance company plays and looks to build upon the excellent relations which Jim Ryan built up over the past number of years with Volvo Trucks, Mack Trucks, Volvo Construction Equipment, Volvo Buses, Volvo Aero and VCF’s other US affiliates”.
Ryan, who previously headed Volvo’s US car finance operations, led a turnaround drive at Volvo Commercial Finance beginning in 2001. Mauro added, “We are very grateful for Jim’s invaluable contributions. He streamlined VCF’s operations and launched the Mack Commercial Finance program, among many other lasting achievements”. Ryan will remain at VCF to assist with the transition and other assignments through year-end.