VOLVO Cars has announced the surprise appointment of Håkan Samuelsson (76) as Chief Executive Officer and President, effective April 1, 2025.
Samuelsson, who previously served as Volvo Cars’ CEO from 2012 to 2022, and as a board member from 2010, returns to steer the company through what the company called a period of rapid technological advancements, geopolitical complexities, and heightened competition.
During his prior tenure, he successfully repositioned Volvo Cars as a global premium automotive brand and oversaw its public listing. The appointment is for a two-year term to provide leadership stability.
Former CEO Jim Rowan has resigned, FT.com pointing to a precipitous fall in the share price of Volvo Cars – down 66% – during his tenure as CEO.
We are very pleased to welcome Håkan Samuelsson back as CEO. His proven track record of revitalising the brand, expanding into new markets, and executing a successful IPO, coupled with his deep industrial experience and strategic clarity, make him the ideal leader for this challenging phase.
Eric Li, Chairperson of the Board, Volvo Cars
Li – who is the founder of Geely which owns Volvo Cars. emphasised the importance of Samuelsson’s experience in navigating the increasingly complex automotive landscape, highlighting his ability to strengthen Volvo Cars’ global position and unlock future potential.
This will be a particularly pressing problem for Volvo as it attempts to navigate the car tariffs imposed by President Trump of the United States of America.
The car industry is under pressure from many directions. I’m honoured to return at such a defining moment for Volvo Cars. I have deep respect for the challenges ahead and look forward to working with our talented team to sharpen our competitiveness, meet the demands of key markets, and accelerate strategic execution and focus on leadership development.
Håkan Samuelsson, Chief Executive Officer and President, Volvo Cars
The appointment follows the announcement that Jim Rowan will step down as CEO on March 31, 2025, and leave the Volvo Cars Board on the same date. The Board acknowledged Rowan’s contributions in accelerating Volvo Cars’ transition into a software-led, connected car company.
“We want to thank Jim Rowan for his important contributions,” said Li. “His leadership over the past three years has accelerated Volvo Cars’ transition into a software-led, connected car company. His commitment and energy have built a strong foundation in digital capabilities, and we are grateful for his efforts during a time of significant change.”
Rowan remarked, “It has been a privilege to lead Volvo Cars and work alongside such an exceptional team. Together, we’ve made significant progress in building a fast-growing, trusted brand and launched some of the industry’s most advanced and safety-oriented products.”
Håkan Samuelsson will be proposed as a new member of the Volvo Cars Board at the upcoming Annual General Meeting.
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