Pehr G. Gyllenhammar facts for kids
Quick facts for kids
Pehr G. Gyllenhammar
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Gyllenhammar in 2014
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| Born |
Pehr Gustaf Gyllenhammar
28 April 1935 Gothenburg, Sweden
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| Died | November 2024 (aged 89) |
| Nationality | Swedish |
| Alma mater | Lund University |
| Employer | Volvo (1970–1993) |
| Title | CEO of Volvo |
| Term | 1971–1994 |
| Spouse(s) |
Christina Engellau
(m. 1959; died 2008)Christel Behrmann
(m. 2010; div. 2012)Lee Welton Croll
(m. 2013) |
| Children | Cecilia (b. 1961) Charlotte (b. 1963) Oscar (b. 1966) Sophie (b. 1968) Daughter (b. 2016) |
| Parent(s) | Pehr Gyllenhammar Aina Gyllenhammar |
Pehr Gustaf Gyllenhammar (born April 28, 1935 – died November 2024) was a famous Swedish businessman. He is best known for leading the car company Volvo for 24 years, from 1970 to 1994. He was both the CEO (Chief Executive Officer) and the chairman of the company's board. He also helped start the European Round Table of Industrialists (ERT) in the early 1980s.
Gyllenhammar held important roles in many international companies. At the time of his death, he was the Vice Chairman of Rothschild Europe. He received high honors from France, including the "Ordre National du Mérite" in 1980 and the Legion of Honour in 1987. In 2001, he became an Honorary Master of the Bench of the Inner Temple in London.
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Early Life and Education
Pehr Gyllenhammar was born on April 28, 1935, in Gothenburg, Sweden. His father, Pehr Gyllenhammar Sr., was also a Swedish businessman. His mother was Aina Kaplan.
He completed his military service in Uddevalla from 1954 to 1955. After that, he studied law at Lund University, graduating in 1959. He gained experience at law firms in Sweden and studied maritime law in the United States. Later, he learned about industrialism in Geneva, Switzerland, in 1968.
A Career in Business
Gyllenhammar started his career at an insurance company called Amphion AB in Gothenburg in 1961. By 1965, he became a senior officer at the Skandia Group, another insurance company. In 1968, he became Deputy CEO.
In 1970, he took over from his father as CEO of Skandia. Just a few months later, he moved to Volvo.
Leading Volvo
In 1971, Pehr Gyllenhammar became the CEO of Volvo. He took over from his father-in-law, Gunnar Engellau. During his time at Volvo, Gyllenhammar became one of Sweden's most famous business leaders.
He made many changes at Volvo. He expanded the company into different areas, even buying a pharmaceutical company called Pharmacia. However, not all his plans worked out. He eventually left Volvo after a planned merger with the French car company Renault did not succeed.
After Volvo
After leaving Volvo, Gyllenhammar moved to London. There, he became the chairman of an insurance company called Aviva. He returned to Swedish business in 2004 as the Chairman of Investment AB Kinnevik. He is no longer on the board of Investment AB Kinnevik.
Gyllenhammar also served on the boards of many other important companies. These included Skandinaviska Enskilda Banken, United Technologies, Atlas Copco, and Philips Electronics NV. He was also involved with Reuters Holdings PLC and Commercial Union PLC. From 2007 to 2009, he was the chairman of the Majid Al Futtaim Group in the United Arab Emirates.
Political Interests
Pehr Gyllenhammar was a strong supporter of the Liberal People's Party in Sweden. In his 1973 book, I Believe in Sweden, he wrote about his support for the Nordic model. This model describes the way Nordic countries combine a strong welfare state with a market economy. He believed in the kind of social liberalism that his party supported.
He was a member of the party's board. Some people even thought he might become the Prime Minister of Sweden one day.
His Family
Pehr Gyllenhammar was married three times. His first marriage was to Christina Engellau from 1959 until her death in 2008. They had four children: Cecilia, Charlotte, Sophie, and Oscar. He married Christel Behrmann in 2010, but they divorced in 2012. In 2013, he married Lee Welton Croll, a British-Canadian doctor. They had a child together in 2016.
His children have also had interesting careers:
- Cecilia Gyllenhammar, his oldest daughter, has written a novel about growing up in an upper-class family in Gothenburg.
- Charlotte Gyllenhammar, a younger daughter, is a well-known artist. Her art is shown in many museums in Sweden.
- Sophie Gyllenhammar Mattson became a successful designer of gold and jewelery. She created her own brand called "Sophie by Sophie".
- Oscar Gyllenhammar worked in the IT field. He started his own IT company called Compost.
Awards and Recognitions
Pehr Gyllenhammar received many awards and honors throughout his life.
Swedish Awards
H. M. The King's Medal (1981)
Commander 1st Class of the Order of Vasa (1973)- Knight of the Order of Vasa (1965)
Foreign Awards
Commander 1st Class of the Order of the White Rose of Finland (1986)
Commander of the Order of St. Olav (1984)
Commander of the Order of Leopold (1989)
Commander of the Legion of Honour (1987)
Commander of the National Order of Merit (1980)
Honors and Degrees
He was also recognized by many universities and academies:
- Member of the Royal Swedish Academy of Engineering Sciences (1974)
- Honorary Doctor of Medicine from the University of Gothenburg (1981)
- Honorary Doctor of Technology from Brunel University London, England (1987)
- Honorary Doctor of Engineering from the Technical University of Nova Scotia, Canada (1988)
- Honorary Doctor of Social Sciences from the University of Helsinki (1990)
- Honorary Doctor of Law from the University of Vermont, USA (1993)
- Honorary Doctor of Economics from the School of Business, Economics and Law, University of Gothenburg (2003)
- Honorary Master of the Bench of the Inner Temple in London (2001)
