Photo: Volvo
Volvo has announced that an amicable agreement has been reached with the now former CEO Stefan Jacoby, who will be leaving the company effective immediately.
His place will be taken up by the newly appointed Hakan Samuelsson, who is currently a Board member for the swedish automaker. He has served as Chairman & CEO of MAN SE between 2005 and 2009, and has 35 years of industry experience.
"My time on the Board has provided me with insight in the Volvo brand and the company. 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," says Håkan Samuelsson.
"I see major opportunities for Volvo Cars to improve profitability, and accelerate our growth plan in China specifically. I am convinced that Håkan Samuelsson's thorough experience and leadership will help us increase performance," says Li Shufu, majority shareholder and Chairman of the Board.
"We have a strong strategy and transformation plan in place which we will now execute. 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," says Li Shufu.
Jacoby had been the Chief Executive Officer and President of Volvo Car Corporation since August 2010 until September 2012, when he temporarily retired for health reasons. He moved to Volvo’s heal from Volkswagen, where he served as Executive Vice President of Global Marketing and Sales and also as Executive Officer and President of Volkswagen Group of America.
"My time on the Board has provided me with insight in the Volvo brand and the company. 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," says Håkan Samuelsson.
"We have a strong strategy and transformation plan in place which we will now execute. 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," says Li Shufu.
Jacoby had been the Chief Executive Officer and President of Volvo Car Corporation since August 2010 until September 2012, when he temporarily retired for health reasons. He moved to Volvo’s heal from Volkswagen, where he served as Executive Vice President of Global Marketing and Sales and also as Executive Officer and President of Volkswagen Group of America.
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