US EditionVolvo Cars brings back former boss to provide ‘steady hand’
- Hakan Samuelsson, who served as Volvo's CEO from 2012 to 2022, is returning to the position on April 1, 2025, succeeding Jim Rowan, who will step down on March 31.
- The leadership change comes as Volvo anticipates a tumultuous and competitive year in 2025, facing fast-moving technological shifts, growing geopolitical complexity, and intensifying competition.
- During Samuelsson's previous tenure, Volvo achieved multiple records in vehicle sales and profits, with revenue more than doubling to SEK 282 billion and an operating margin of 7.2% by the end of 2021.
- Eric Li, Volvo Cars board Chair, stated that the company was facing fast-moving technological shifts, growing geopolitical challenges and intensifying competition and welcomed Samuelsson back, noting his industrial depth, strategic clarity, and proven leadership.
- Samuelsson, now 74 years old, will serve a two-year term to ensure stability while the board prepares to appoint a long-term successor, amidst challenges that include potential impacts from new tariffs and a recent recall of approximately 73,000 plug-in hybrid vehicles due to a potential electrical system fault.
54 Articles
54 Articles
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Hakan Samuelsson is back following the abrupt resignation of the current Volvo CEO on March 31. Also, the Four Seasons is ditching the Meeting Street address formerly attached to a shuttered budget motel in downtown Charleston.
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Volvo Cars brings back veteran Samuelsson as CEO
Volvo Cars, majority-owned by China's Geely, has brought back former CEO Hakan Samuelsson to head the company for the next two years at a turbulent time marked by mounting tariff pressures, replacing Jim Rowan who has run the group since 2022.
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