Stefan Jacoby is stepping down as Volvo CEO in an "amicable agreement" with the automaker's board of directors.
Recent reports suggested Jacoby and the board had clashed over regaining European market share and the brand's position as an international luxury manufacturer. Much of that friction came from the arrival of Vice Chairman Hans-Olov Olsson, a former Volvo CEO himself. The company's new owners, Chinese automaker Geely, brought Olsson back to the board room to balance Jacoby's decisions.

Now Hakan Samuelsson (pictured right) is set to take over as CEO. Samuelsson currently serves as a Volvo board member and most recently served as the Chairman and CEO of MAN SE for four years between 2005 and 2009. The new executive says his goal is to focus on the brand's profitability and meeting sales goals.

Samuelsson faces and uphill battle, to be sure, in a continually weakening European market that has seen Volvo slide from relevance in recent years. The company has high hopes that its new CEO will help them continue to gain a foothold in the Chinese market, as well.

You can take a look at the full press release below for more information.
Show full PR text
Volvo Car Group appoints new President and CEO

The Board of Directors of Volvo Car Group has appointed Håkan Samuelsson, currently Board member, as new President & CEO effective immediately. Stefan Jacoby will leave Volvo Car Group* after an amicable agreement with the Board of Directors.

"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.

He continues: "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.

Håkan Samuelsson has 35 years of experience from leading positions in the automotive industry, most recently as Chairman & CEO of MAN SE between 2005 and 2009. Since 2010 he is an independent member of the Board of Directors of Volvo Car Group.

"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."


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  • 17 Comments
      Wetstuff
      • 2 Years Ago
      They have some pretty remarkable product: the dual power diesel/battery V60 .. the V40 in two forms. Volvo could step all over VW in the U.S. with a little effort. Subie came out of the hills of VT to lock in a decent market share by adopting 'practical' as a standard .. look at KIA run with 'style'. Volvo could do both if they dropped that V70XC 'plastic body armor' B.S. and brought us practical cars rather than simply skimming CT yuppies for that XC premium. My V70 is my fourth. Jim
      Palandi
      • 2 Years Ago
      dear Mr. Samuelsson, welcome aboard Volvo. please be nice with the company as it is the last Swede standing. and please: - make the 70/80/90 cars RWD - don't drop the inline-5, which could stay as the flagship engine - work on a successor for the C30 - remember Volvo has the heritage of RELIABILITY so make this top priority along with the safety R&D - remember it's nice to gain Chinese market but be sure to regain market share lost to Subaru in the U.S. - and PLEASE, bring back Volvo's product placement in Brazil (where I do live) to the 90's, when they cost about 30% less than Mercedes-Benz and BMW and Volvo was the sensible, value-conscious choice.
      Cymbal66
      • 2 Years Ago
      Why can't Volvo start selling the S40 and V50 in the US again. I own a 2000 S40 and I would like to purchase another Volvo if it were available. Mine has been very dependable. Think about this volvo board o f directors. It could increase your bottom line. Thank you for allowing me to xpress my opinion.
      msopherco
      • 2 Years Ago
      Volvo, please, please, please bring back the manual transmission option! I am still driving my 1999 S70 stick shift car in part because I cannot replace it with another Volvo (also because it still works beautifully!). The C30, the Volvo car with the only stick shift option, is too small for our family. My family has never owned anything but Volvos since 1973; we usually keep them for about 14-15 years each. I would hate to have to buy another brand of car when my 1999 Volvo finally goes...
      Proghog
      • 2 Years Ago
      Well hopefully he will see the light and release the V40 V40XC in the US.
        kevsflanagan
        • 2 Years Ago
        @Proghog
        Ditto and was gonna reply to something of that effect. While yes it won't effect market share in EU it will help in the US. I work at a Volvo dealership now and what I hear from customers is "I wish they had something smaller than the S60" and "I love my V70 but I don't like the height of the XC70". Sometimes I wish car companies would send out survey's to their actual dealer employee's and ask "Hey what do you hear from customers in what they want in future products?" it would help them out a lot!
          th0mb0ne
          • 2 Years Ago
          @kevsflanagan
          I'm actually really surprised they don't. Considering dealers are the ones who have the face to face relationships with the customer base, they are probably the ones most in tune with what they are looking for. Maybe this is why companies put out cars that nobody asked for....ie the Crosstour.
          Proghog
          • 2 Years Ago
          @kevsflanagan
          Ya, last time I checked the US isn't doing as well as it usually does, but it is sure has hell doing a lot better than Europe at the moment. Maybe you should make a survey for your dealership do it for a while and then show it to the higher ups.
        th0mb0ne
        • 2 Years Ago
        @Proghog
        screw the XC, just give us the regular V40. And while you're at it, give us the V60. This is coming from a V50 family who will be looking to upgrade in a couple of years....
      chaparita0728
      • 2 Years Ago
      I have driven Volvos since 1981 and they are increaslingly less reliable. Now that Ford has sold it's Volvo division to China, I can only guess how low the quality will go. Definitely my last Volvo.
        Pixel Eater
        • 2 Years Ago
        @chaparita0728
        So far and likely in the future, it is not at all as if Volvos are being shipped here from China. I'd say that's a fairly baseless concern.
      Ren
      • 2 Years Ago
      volvo honestly make very good quality cars. but they need to step up their game.
      bond0007
      • 2 Years Ago
      wow..stefan has been with volvo for soooo long. sad that hes gone. Plus he has some health issues. well hopefully this new guy bring volvo 'back 2 life"
        Jim
        • 2 Years Ago
        @bond0007
        Soooo long? Two years is not very long
      thosholzel
      • 2 Years Ago
      Great cars, the Volvos. We drove a XC70 around England for a year--a bit large for their back cntry roiads, though. But able to cruise effortlessly at 90mph on the M motorways. But reliablilty is only average. To beat Honda, they need to do a better job on quality control. We're getting a Honda CrossTour next--a XC70 with much higher reliability.
        th0mb0ne
        • 2 Years Ago
        @thosholzel
        Jeebus! God, no! Please don't give Honda a reason to keep building hideous Crosstour.
      Bob
      • 2 Years Ago
      It would be great if they would take there coupes,like the C70/C30, and put in an R design option with 325/350 H.P.,along with the XC70 wagon. I agree with Serenspeed with more manuals,rwd & the practical quirkiness. Please bring in the V40. The open house at Rockleigh,N.J. was great. Hope they can have it every year.
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