Jim Rowan will resign as CEO of Volvo Cars today, being replaced by Håkan Samuelsson, who previously led the company from 2012 to 2022. The decision was made by the board after a successful year, with record sales and profits for Volvo. Nevertheless, concerns over disappointing U.S. electric vehicle sales and a delayed fully electric transition prompted the leadership change. The board feels employing Samuelsson's extensive industry experience is crucial during this transformative phase for Volvo and the automotive sector overall.
"The leadership change comes at a pivotal time for both Volvo Cars and the wider automotive industry, ensuring the company is best served by proven leadership."
"Håkan Samuelsson led Volvo Cars through one of its most transformative and value-creating decades, revitalising the brand and expanding into new markets."
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