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Volvo Cars appoints Klaus Zellmer as CEO, replacing Samuelsson
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Reuters reports that Volvo Cars has appointed Klaus Zellmer to succeed Håkan Samuelsson as president and CEO within a year, with Zellmer assuming the role no later than October 1, 2027. Samuelsson, who was reappointed in 2025 to revive the Swedish automaker's performance, stated he has no plans for full-time work after his contract expires in April. The company held a strategy day on Thursday where Samuelsson outlined an ambitious plan to launch 13 new models by 2030 to double market share. Volvo is currently grappling with U.S. tariffs, declining sales in China, weak demand for electric vehicles, and high development costs. Majority-owned by Chinese holding company Geely, Volvo faces a delicate balancing act separating Western and Chinese technologies to continue U.S. sales, while its sister brand Polestar faces a U.S. sales ban. The stock remains near historic lows, down more than 45% year-to-date.
Source report
Reuters, Sept. 20 — Volvo Cars announced on Sunday that Klaus Zellmer will take over as president and chief executive officer from Håkan Samuelsson within the next year.
Leadership Transition
Zellmer is expected to assume his new role no later than October 1, 2027. Samuelsson, who was reappointed in 2025 to revive performance at the Swedish automaker, stated last week that he has no plans for full-time work after his contract expires in April.
Strategic Challenges
Volvo Cars held a strategy day meeting on Thursday, during which Samuelsson outlined an ambitious plan to launch 13 new models by 2030 in order to double the company's market share. The automaker is currently grappling with the impact of U.S. tariffs and declining sales in China.
The Sweden-based company, majority-owned by Chinese holding company Geely, has struggled to meet its previous profitability targets due to:
- Tariffs
- Weak demand for electric vehicles
- High development costs
Geopolitical and Market Pressures
Volvo faces an increasingly delicate balancing act, needing to separate its Western and Chinese technologies to continue selling in the United States. Its sister brand Polestar is facing a sales ban in the U.S.
Stock Performance
Samuelsson returned as CEO in 2025, tasked with revitalizing the share price, after first leading the company from 2012 to 2022. However, the stock remains near historic lows, down more than 45% year-to-date.
Source: Reuters
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