Pehr G. Gyllenhammar, known as PG, was born in 1935 and began his career in the insurance industry. In 1970, he took over as CEO of Skandia, following in his father’s footsteps. However, it was during his time as CEO of Volvo from 1971 to 1983, and later as chairman from 1983 to 1993, that PG became a household name in Sweden.
PG exuded confidence and had a knack for media, as noted by journalist Ronald Fagerfjäll in a column in Dagens industri. “In poll after poll, Pehr G. Gyllenhammar was voted the country’s most popular person. It got to the point where he was being touted as a potential party leader for the Folkpartiet and thus, prime minister. But he met a cunning opponent in Ola Ullsten. It was only a matter of retreating to the waiting chauffeur with his entourage,” Fagerfjäll writes.
His time at Volvo came to an end when the merger with Renault was halted, leading him to move to London. However, he stayed in the family’s insurance business by overseeing a major British insurance merger as chairman. Later on, he also became chairman of the investment company Kinnevik.
Pehr G. Gyllenhammar passed away at the age of 89, leaving behind a legacy of leadership and influence in both the business and political realms. His impact on the Swedish corporate landscape continues to be felt to this day, as his bold decisions and charismatic persona have left an indelible mark on the country’s business history.