Volvo Cars has brought back former boss Håkan Samuelsson to provide the Geely-owned Swedish carmaker with a “steady hand” needed to navigate geopolitical turbulence and cut-throat competition.
Samuelsson, who turned 74 this month, served as the group’s chief executive for a decade until 2022. The company’s share price has fallen 66 per cent in the past three years under Jim Rowan as it struggled with the industry’s slower-than-expected shift to electric vehicles.
“The car industry is under pressure from many directions,” Samuelsson, who will start a two-year term on Monday, said in a statement on Sunday. “I’m honoured to return at such a defining moment for Volvo Cars.”
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