Volvo dismisses Rowan, reinstates Samuelsson as the company's CEO
In a surprising move, Volvo Cars, the Swedish automotive company that is majority-owned by Chinese automotive giant Geely, has announced a change in leadership. Jim Rowan, who was appointed CEO in January 2022, has been dismissed, and Håkan Samuelsson, a former CEO of Volvo Cars, is returning as the interim CEO, effective immediately.
Jim Rowan's tenure at Volvo Cars was marked by challenges, as the company had previously warned that it would be difficult to match last year's sales and profits in 2025, with the U.S. being its largest market. A few weeks ago, Rowan stated that Volvo had considered, but ultimately rejected, moving parts of its production to the U.S. due to pending tariffs. However, there is no direct evidence linking the U.S. import tariffs on foreign-made cars and car parts to Rowan's dismissal.
Håkan Samuelsson, who served as CEO of Volvo Cars from 2010 to 2022, is known for his deep industrial experience, strategic clarity, and proven leadership. Eric Li, the CEO of Geely and the chairman of the supervisory board at Volvo Cars, praised Samuelsson's role in leading Volvo Cars through one of its most transformative and value-creating decades. Samuelsson expressed his deep respect for the challenges ahead and his eagerness to work with the talented team at Volvo Cars, stating that these qualities would help in sharpening Volvo Cars' competitiveness.
Volvo Cars did not provide specific reasons for the change in leadership, but stated that it is a pivotal time for both the brand and the industry as a whole. The company's statement emphasised the importance of navigating the complexities of the current automotive landscape, including the shift towards electrification and the challenges posed by global trade policies.
In a separate development, Samuelsson has also served as chairman of Polestar from 2022 to 2024. With this wealth of experience and strategic insight, Samuelsson is well-positioned to lead Volvo Cars through its next chapter.
As the automotive industry continues to evolve, Volvo Cars will undoubtedly face numerous challenges and opportunities. With Håkan Samuelsson at the helm, the company is poised to navigate these complexities and continue its journey towards a sustainable and successful future.
In the wake of Jim Rowan's dismissal, Håkan Samuelsson, seizing the opportunity to propel Volvo Cars forward, will apply his extensive experience in both industry and finance, as well as his understanding of global trade policies and the shift towards electrification, to bolster the competitiveness of the company in the rapidly evolving automotive business.
As the company navigates these intricate trade policies and transitions towards electrification, the return of former CEO Håkan Samuelsson and his strategic leadership will be instrumental in managing the challenges and reaping the benefits in the finance and transportation sectors.
