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In March, Volvo CEO Hakan Samuelsson Will Step Down

Samuelsson will resign when his contract expires. Jim Rowan, the former CEO of Dyson, is expected to succeed him.

After nearly a decade as CEO and president of Volvo, Hakan Samuelsson will step down in March. Jim Rowan, the former CEO of the Dyson Group, has been named as his successor by the Swedish manufacturer. Samuelsson has been president and CEO of Volvo Cars since October 2012, following two years on the company’s board of directors and prior to that as chairman and CEO of the now-defunct commercial vehicle manufacturer MAN SE.

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  • Rowan headed Dyson when the brand was developing an EV
  • Samuelsson to retain position as chairperson of Polestar

Samuelsson’s contract expires this year, and Volvo announced that his successor was chosen “after a thorough and diligent search process to secure the continued strong leadership of Volvo Cars with a CEO who has a strong background in software, digital transformation, and innovative consumer products.

In March, Volvo CEO Hakan Samuelsson Will Step Down
In March, Volvo CEO Hakan Samuelsson Will Step Down

When Rowan takes over on March 21, Samuelsson will step down from the Volvo board of directors, but will continue to chair Polestar, an electric vehicle performance brand that is preparing to list on the Nasdaq stock exchange later this year. He hasn’t said anything else about his plans.

“I’m delighted to welcome Jim to his new role as part of Volvo Cars’ exciting journey,” Samuelsson said. “I’d like to thank all Volvo Cars employees for the incredible progress we’ve made together over the last ten years – not only for making Volvo one of the fastest growing and most trusted premium automotive brands, but also for always innovating and leading with purpose.” I wish you every success in the exciting years ahead.

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“I’d like to take this opportunity to express my gratitude to Hakan Samuelsson for his dedication and perseverance over the past ten years at Volvo Cars,” said Li Shufu, chairman and founder of Volvo’s parent company, Geely Holding Group. “Hakan has created a renewed and strong product line, re-established Volvo as a premium brand that is well positioned for the future, and enabled the successful listing of Volvo Cars with his management team.”

Rowan is the founder and CEO of Ember Technologies, a company that makes heat-controlling kitchenware. Prior to that, he spent three years as CEO of technology giant Dyson, specifically during the time when the company was developing a bespoke electric car, which never made it to market after being deemed uncommercially viable. He was the chief operating officer of Blackberry before joining Dyson in 2012.

In March, Volvo CEO Hakan Samuelsson Will Step Down
In March, Volvo CEO Hakan Samuelsson Will Step Down

Following the recent arrival of the all-electric XC40 Recharge and C40 Recharge compact SUVs, he arrives at Volvo as the Swedish company prepares to launch the landmark all-electric successor to its largest model this year – the XC90.

It has also formed a joint venture with Northvolt, a technology start-up, to manufacture its own electric vehicle batteries in Sweden, and has pledged to significantly increase its sustainability efforts across its manufacturing and supply chain operations.

I’m thrilled to be joining Volvo Cars at such an exciting time for the company and for the industry and consumers,” Rowan said. “Volvo Cars, with its strong track record in innovation, safety, and quality, as well as world-class talent and inspiring sustainability and technology capabilities, is in the driver’s seat for the road ahead.

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Volvo automobiles for India

Volvo has pushed for electrification of its model line-up in recent months, with the introduction of mild-hybrid versions of the XC60, S90, and XC90 in India. The all-electric XC40 Recharge will be released in the coming months, bringing Volvo into the EV market. The Recharge will be Volvo’s first electric vehicle for the Indian market, with the company planning to release one new electric vehicle each year.

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