Volvo announced today that it has named Tony Nicolosi, president and CEO of Volvo Car Financial Services VCFS), as the new CEO of Volvo Cars of North America (VCNA). Nicolosi replaces John Maloney, who chose to leave due to family obligations after Volvo offered him a position in Europe.
Volvo says Nicolosi will remain president and CEO of VCFS while he assumes VCNA's top position. The Swedish automaker also says a "permanent successor [to Maloney] as President and CEO will be the subject of a later announcement."

The move comes as part of a management shakeup that's part of a "larger transformation taking place at Volvo," the automaker says.

Volvo's sales in the US have slumped seven percent this year, Automotive News reports, despite an expanding market following the 2008-09 recession. It's ultimately up to Nicolosi to implement a plan to boost sales here. Alain Visser, Volvo's senior vice president for marketing, sales and customer service, reportedly says Nicolosi, as CEO of VCNA, will be a dealership contact crucial to running the US business.

Volvo also announced today that Greg Swetoha, VCNA's executive vice president of sales operations, chose to leave the company as well.

Head on below for the full press release.
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Tony Nicolosi named acting President and CEO, Volvo Cars of North America

Volvo Cars of North America, LLC (VCNA) today named Tony Nicolosi acting President and CEO. Nicolosi, 53, who currently serves as President and CEO of Volvo Car Financial Services US, LLC (VCFS), replaces John Maloney, who has decided to leave Volvo. Tony Nicolosi will continue in his role with VCFS in addition to his new duties for VCNA. A permanent successor as President and CEO will be the subject of a later announcement.

"Tony has been with Volvo for 26 years, has a keen insight into the business operations and is a strong and enthused leader," said Alain Visser, Senior Vice President Marketing, Sales and Customer Service at Volvo Car Group. "As our largest market globally, VCNA's momentum and success in the U.S. is vital to a larger transformation taking place at Volvo."

John Maloney was asked to consider a senior role in Europe which he declined for family reasons. "We would like to thank John for his tremendous contributions over the last 14 years with the company," said Alain Visser.

VCNA also announced that Greg Swetoha, Executive Vice President of sales operations, has also elected to leave Volvo. The three regional vice presidents will now report directly to Tony Nicolosi.


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