Story: RALPH MORTON

VOLVO Car Group has a new ceo and president: Hakan Samuelsson.

Hakan Samuelsson, already a board member, takes over from Stefan Jacoby, who will now leave the Volvo Car Group. The departure, said Volvo, was amicable.

Earlier this year Stefan Jacoby suffered a mild stroke, and stood down from his duties – Jan Gurander, CFO at Volvo Car Corporation, served as acting CEO in the interim.

Clearly, Mr Jacoby’s illness has played a major part in the decision.

Li Shufu, majority shareholder and Chairman of the Volvo Board, said:

“I would like to thank Stefan Jacoby for his valuable and strong contribution developing the strategy and taking the company through the first two years following the acquisition of the Volvo Car Group by Zhejiang Geely Holding.”

The new Volvo ceo and president, Hakan Samuelsson, is charged with improving the profitability of Volvo Cars and accelerating the company’s ambitions in China.

Hakan Samuelsson comes with a serious CV. He has 35 years’ experience in key automotive industry positions. Prior to taking up his post in 2010 as an independent member of the Board of Directors of Volvo Car Group, Mr Samuelsson was chairman and ceo of truckmaker MAN SE between 2005 and 2009.

Following the business car news of his announcement, Hakan Samuelsson commented: “My focus will be on execution and performance, to secure profitability and meet our sales objectives. 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.”