Volvo Cars has announced that its former CEO, Hakan Samuelsson, will return to lead the company again. The 74-year-old executive, who ran Volvo from 2012 to 2022, is coming back as the automaker prepares for a difficult year ahead.
Samuelsson will serve a two-year term while Volvo searches for a long-term successor. Board Chair Eric Li praised his “industrial depth, strategic clarity, and proven leadership,” citing the need for stability amid technological shifts and intensifying competition.
Last month, Volvo, majority-owned by China’s Geely, warned that 2025 could be difficult, with sales and profitability possibly falling short of 2024 levels. Geely Sweden declined to comment further on the leadership change.
Why the Change?
Samuelsson replaces Jim Rowan, who is stepping down after just three years as CEO. The switch comes as Volvo warned that 2025 will be a tough year, with challenges including:
Slower sales and profits compared to 2024
Fast-changing technology in the auto industry
More competition from other carmakers
Geopolitical uncertainties affecting global markets
Why Samuelsson?
Volvo’s chairman, Eric Li, said Samuelsson was chosen because of his deep experience with the company and strong leadership. “He knows our business well and can guide us through these challenges,” Li said.
A Short-Term Solution
Samuelsson will serve as CEO for two years while Volvo searches for a long-term leader. The company, owned mainly by China’s Geely, hopes his return will bring stability during a difficult period.
Volvo’s European division, which includes brands like Polestar, did not give further details about the leadership change.
What’s Next?
With Samuelsson back in charge, Volvo will focus on navigating a competitive and uncertain year. The company will need to adapt quickly to stay ahead in the fast-moving electric and smart car markets.
