Volvo Veteran Hakan Samuelsson back as CEO for 2-year term

Volvo Car AB said Hakan Samuelsson, who served as its chief executive officer from 2012 to 2022, will retake the helm as the Swedish carmaker tries to navigate its way out of a malaise worsened by looming US tariffs.

Samuelsson will replace Jim Rowan on April 1, and serve for a two-year term as the board looks for a long-term successor, the company said in a statement on Sunday.

"With fast-moving technological shifts, growing geopolitical complexity, and intensifying competition across regions, the board believes the company is best served by leadership with deep industrial experience, deep knowledge of our group, and a proven ability to execute in challenging environments," Volvo Car said.


Volvo Car is among the European carmakers vulnerable to new 25% tariffs set to be imposed by the US next week on all imported passenger vehicles and light trucks, as well as key auto parts. Based in Gothenburg, Sweden, and listed on the Nasdaq Stockholm exchange, Volvo was bought by Geely Automobile Holdings in 2010 from Ford Motor.