Volvo Cars appoints Klaus Zellmer to succeed Samuelsson as CEO 

By Reuters News

Sept 20 (Reuters) - Volvo Cars VOLCARb.ST said on Sunday that Klaus Zellmer would become its president and chief executive officer within a year, succeeding Hakan Samuelsson who was reappointed in 2025 with the aim of reviving the Swedish automaker's fortunes.

Zellmer will start in his role no later than October 1, 2027, the company said.

Samuelsson said last week he had no plans to work full time after his contract runs out in April.

Volvo Cars held a strategy day on Thursday where Samuelsson laid out an ambitious strategy to launch 13 new models between now and 2030 to double the company's market share as the automaker grapples with the fallout of U.S. tariffs and slumping sales in China.

The Sweden-based automaker, which is majority-owned by China's Geely Holding [RIC:RIC:GEELY.UL], has struggled to meet previous profitability targets due to tariffs, weaker EV demand and high development costs.

It faces an increasingly delicate balancing act separating its Western and Chinese ​technologies in order to continue selling in the United States, where its sister brand Polestar ⁠faces a sales ban.

Its shares, which Samuelsson was tasked with reviving when he returned for his second stint as CEO, having previously led the company from 2012 to 2022, have continued to trade near record lows and are down more than 45% so far this year.

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