Volvo's new CEO

Time 9:18 am, October 19, 2012

VOLVO CARS has appointed a new president and CEO – Håkan Samuelsson.

Previously on the firm’s board of directors, Samuelsson has 35 years of experience in the car industry – heading up truck manufacturer MAN for four years, and eventually joining Volvo Car Group in 2010.

Samuelsson replaces Stefan Jacoby, who leaves Volvo after ‘an amicable agreement’ with its board of directors.

‘My time on the Board has provided me with insight in the Volvo brand and the company, said Samuelsson.

‘No other business is as demanding, complex and full of challenges as the automotive industry. I look forward to leading Volvo Car Group in the most exciting period of its history.’

Li Shufu, majority shareholder and chairman of the board, saw the appointment as beneficial to Volvo’s position in China in particular.

‘I see major opportunities for Volvo Cars to improve profitability, and accelerate our growth plan in China specifically,’ he said.

‘I am convinced that Håkan Samuelsson’s thorough experience and leadership will help us increase performance.’

Jon Reay's avatar

Staff Writer Jon is one of the Car Dealer team's newest members. You can also find him contributing to AOL Cars.

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