John Rakocy, senior vice president of corporate development for Volvo Financial Services, will retire. Rakocy is a member of the company’s executive management team and reports to Marcio Pedroso, president of VFS. The announcement comes 40 years to the week since Rakocy began his career. Rakocy will remain in his role until the end of 2021.

Rakocy started his career with GE Capital working in various finance, sales and leadership/management positions within the firm’s automotive financial services group with a territory that included the U.S., Canada and Europe. He then spent several years with well-known industry leaders and was essential in a notable turnaround and restructuring in China during the financial crisis for a large private equity firm. Rakocy then joined VFS in 2009 as president of the APAC region, where he established and built the region into a significant business unit for VFS with operations in nine countries. He was named to his current position in 2020 and recently oversaw the divestiture of the VFS Japan business to Isuzu as part of the UD Trucks/Isuzu transaction.

“John is an experienced global leader who emphasized developing not only the VFS business but also the talent needed to build the business,” Pedroso said. “We will miss his energy and passion for driving growth and developing a high-performance culture. On behalf of everyone at VFS, we thank John for his tremendous contributions over the past 12 plus years, and we wish him all the best in this next season of life.”