Volvo Cars Bring Back Hakan Samuelsson as CEO for 2-Year Term

Volvo Cars has announced reappointing Hakan Samuelsson as CEO after being warned about the challenging corporate landscape in 2025. Hakan has already served as CEO of Volvo Cars between 2014 to 2022. At 74, Samuelsson will replace Jim Rowan, who is stepping down from his position on March 31. Samuelsson will now helm the role for a two-year term while the group will prepare to appoint a long-term successor.

Jim Rowan became CEO in January 2022, followed by Volvo’s listing on the Stockholm Stock Exchange in 2021. After successfully leading Volvo for around three years, he would be stepping down from his current role.

On Sunday, Volvo Cars chairman of the board, Eric Li, said the team is pleased to welcome Hakan Samuelsson back as CEO. Li also stated that the company struggled with fast-moving technological shifts, increasing geopolitical challenges, and intensifying global competition. On Samuelsson, Li highlighted that he brings a unique combination of industrial depth, strategic clarity, and proven leadership.

Volvo Cars, with the majority share owned by China’s Geely, the previous month that 2025 would be a tumultuous and competitive year for the company, making it difficult to match the 2024 sales performance and profitability.

In this recent update, Geely Sweden, responsible for managing the group’s investment and European brands like Polestar and Volvo Cars, has declined to comment. Volvo is among the European automakers vulnerable to the new 25% tariff that the US will impose next week on all imported passenger vehicles and light trucks.

In the UAE, Volvo has several flagship cars for sale, including the EX30, XC 40, XC 60, and XC 90. Volvo cars are known for their exceptional safety features, luxurious interior, and premium exterior design.