► Håkan Samuelsson returns as Volvo boss
► Steps in after Jim Rowan’s resignation
► Aims for ‘stability’ while long-term replacement found
Volvo’s new CEO is actually its old one, as the brand parachutes in former boss Håkan Samuelsson to run the company after Jim Rowan’s surprise resignation. Samuelsson will serve a two-year term as president and CEO of Volvo Cars.
Samuelsson had become part of the furniture at Volvo, serving on the Volvo Cars board from 2010, as well as being CEO from 2012 to 2022. His temporary new appointment is seen as an effort to ‘ensure stability’ at Volvo while the brand looks for a long-term successor. As well as his short time as CEO from now until 2027, it will be proposed that Samuelsson becomes a member of the Volvo Cars board once again.
‘Håkan led Volvo Cars through one of its most transformative and value-creating decades, revitalising the brand, expanding into new markets and successfully executing its IPO’ says Eric Li, chairman of the board. ‘We’re very pleased to welcome him back.’
As well as launching Volvo’s IPO, Samuelsson arguably led one of the largest developments of growth for the brand, introducing an entirely new family of successful cars like the second-generation XC90 and the 60 and 90 series, as well as the popular XC40. He also led the brand to develop and engineer a range of plug-in hybrids arguably earlier than most brands.
Rowan, who was the brand’s CEO from 2022, will step down on 31 March 2025. When he was appointed, he was seen as an outside choice, having led technology and electronics companies – but not cars. At the time, the appointment was seen as equally refreshing as it was risky, with Rowan leading the revitalisation of the brand with new all-electric models like the EX30, EX90 and recently revealed ES90.
That said, Rowan’s tenure has seen mixed results for Volvo. While the brand has seen sales growth and success in some markets, the EX90 was dogged by production delays. While opening the brand up to a wider pool of customers, the EX30 has also been plagued with difficult-to-use user interface that arguably go against the Volvo brand’s message of safety and simplicity. Volvo has also had to row back from its plans to go electric-only – given the plateauing of demand for EVs in markets like Europe – and scale back its Care by Volvo subscription plan in some markets due to a lack of demand.
Li added that Håkan’s appointment was because he had ‘a rare combination of industrial depth, strategic clarity and proven leadership,’ which almost seems like a slight at Rowan’s leadership.
‘I have deep respect for the challenges ahead and look forward to working with our talented team to sharpen our competitiveness and meet the demands of key markets, says Samuelsson upon his appointment.
‘It has been a pleasure to lead Volvo Cars,’ says Rowan. ‘Together we’ve made significant progress in building a fast-growing, trusted brand and launched some of the industry’s most advanced and safety-orientated products.’