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PRAISE FOR CHARACTER IS DESTINY
“A fascinating window into the life and work of Swedish businessman and European Round Table of Industrialists founder Pehr Gyllenhammar. Whether recounting his childhood during World War II, his years as Volvo’s CEO, or his little known work as a Track Two diplomat in the Middle East, Gyllenhammar is always engaging and intelligent, offering an unflinching assessment of international business, US and European politics, and democracies under siege. Like its author, with whom I share a decades-old friendship, Character is Destiny is by turns insightful, amusing, and refreshingly direct.”
—Henry Kissinger
“Business leader, diplomat, humanist and global citizen—Pehr Gyllenhammar has led a life of fruitful endeavor marked by the highest standards of integrity. This distinguished Swede has cleverly decided to write his impressive autobiography in English. Character is Destiny should be read by all aspiring leaders who want to build bridges, not walls.”
—David Rockefeller, Jr.
“Pehr Gyllenhammar is one of the most respected and thoughtful leaders of his generation. His long awaited second book promises to be an important contribution to thinking about how to make the world a safer and better place through the lens of business and diplomacy.”
—Glenn D. Lowry
“A sentient being of remarkable purpose in the pursuit of human qualities. Pehr’s passion, curiosity, humility and absolute integrity have inspired countless individuals. The range of his perception belies his experience. I look inward after our dialogues. Pehr’s legacy deserves this personal narrative for generations to ponder.”
—David Thomson
CHARACTER
IS DESTINY
Reflections on
INNOVATION & INTEGRITY
from
VOLVO’S LONGEST SERVING CEO
PEHR GYLLENHAMMAR
NEW YORK
LONDON • NASHVILLE • MELBOURNE • VANCOUVER
CHARACTER IS DESTINY
Reflections on Innovation & Integrity from Volvo’s Longest Serving CEO
© 2020 Pehr Gyllenhammar
All rights reserved. No portion of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means—electronic, mechanical, photocopy, recording, scanning, or other—except for brief quotations in critical reviews or articles, without the prior written permission of the publisher.
Published in New York, New York, by Morgan James Publishing. Morgan James is a trademark of Morgan James, LLC. www.MorganJamesPublishing.com
ISBN 9781642799743 paperback
ISBN 9781642799736 case laminate
ISBN 9781642799750 eBook
Library of Congress Control Number: 2019958029
Cover and Interior Design by:
Chris Treccani
Cover Photo by:
Filip Erlind
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To my wife Lee, my brilliant partner and inspiration, and to our extraordinary daughter Barrett, the rising sun of our lives.
TABLE OF CONTENTS
FOREWORD
For nine years, Pehr G Gyllenhammar was voted “Sweden´s most admired man.” This is reason enough to be interested in Gyllenhammar the man, and to learn more about him. We all know it is windy atop the high hills of accomplishment. How has it been possible for him not just to become so successful, but to maintain his good reputation for so long? In this book, Gyllenhammar tells you in his own words what it took to rise to the top, and what it takes, in his opinion, to stay there.
It was a very young Gyllenhammar who was appointed CEO of Volvo, a position he kept for 24 years. Volvo began in Sweden, but during Gyllenhammar’s tenure it became more and more global in its activities. Swedes were proud to see Volvo cars wherever they went, all over the world.
It is no surprise that the shareholders and car-owners were satisfied with Volvo’s dynamic leader. What I find quite interesting, however, is that he inspired such sympathy and support in the labor unions. Step by step, Gyllenhammar worked to build a very special relationship with Volvo’s workers. He created a corporate structure in which the workers enjoyed more dialogue and participation, and as a result, wasted less energy fighting. The unions knew that their company had a strong leader who was also good listener. This created trust in Gyllenhammar not just as a CEO, but as a person.
Volvo remained Pehr Gyllenhammar´s first priority throughout his time there. But very early on he also became involved with matters concerning European infrastructure. As Europe’s countries, through political and economic cooperation, were growing stronger and more united, Gyllenhammar saw new possibilities for everyone. His vision was that industry and its leaders should play an active role in developing Europe through new large-scale infrastructural projects.
In