Volvo Cars Sees Håkan Samuelsson Return As CEO And President

Volvo Cars revealed a rather unconventional leadership change this week as Jim Rowan (left) steps down in light of his predecessor Håkan Samuelsson (right) returning as CEO and president.

Swedish premium carmaker Volvo Cars revealed its recent and arguably rathe unconventional leadership change this week. In an official announcement, the firm revealed that Håkan Samuelsson has returned as the firm’s CEO and president for a two-year term.

The change takes effect from April 1 and sees current CEO Jim Rowan stepping down to make way for his returning predecessor. The Geely-owned firm adds that Samuelsson’s appointment “ensures stability while preparing to appoint a long-term successor.”

Håkan Samuelsson returns to lead Volvo Cars as its CEO and president across a two-year term. He previously led the marque from 2012 to 2022 before being succeeded by Jim Rowan.

Volvo Cars also stressed that Samuelsson’s return comes at a “pivotal time” for the marque, citing “fast-moving technological shifts, growing geopolitical complexity, and intensifying competition across regions.” He previously led the firm from 2012 to 2022.

As a refresher, Volvo back-tracked and revised its ambitions and goal of transforming itself into an electric-only carmaker by 2030. Instead, the firm will update its combustion (ICE)-powered models with electrified powertrains and continue marketing them alongside its EVs.

Volvo EX90 - the marque's latest all-electric flagship - pictured. Volvo back-tracked on its ambition at becoming an electric-only brand by 2030 recently. Instead, it has chosen to retain and update its ICE-powered models.

“I’m honored to return at such a defining moment for Volvo Cars. I have deep respect for the challenges ahead and look forward to working with our talented team to sharpen our competitiveness, meet the demands of key markets, and accelerate strategic execution and focus on leadership development,” remarked Samuelsson on his re-appointment.

Eric Li, Chairperson of Volvo Cars’ Board, welcomed Samuelsson back as CEO, noting how he led the marque “through one of its most transformative and value-creating decades – revitalising the brand, expanding into new markets, and successfully executing its IPO” during his last tenure too.

Rowan presenting the new EX90 EV saloon model earlier this year. The exec has been credited for steering Volvo's transformation into  software-led, connected automaker.

At the same time, Li also acknowledged outgoing CEO Rowan, adding that his leadership over the past three years had accelerated Volvo Cars’ transition into a software-led, connected car company. “His commitment and energy have built a strong foundation in digital capabilities, and we are grateful for his efforts during a time of significant change,” Li added.

Despite the uncertainty ahead, Volvo’s current momentum stems from a rather positive 2024 where it recorded its best results in its 98-year history with 763,389 vehicles shifted. This, in turn brought record revenues and the firm’s highest core operating profit to date.