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Volvo Car picks Škoda boss Zellmer as CEO to oversee revamp
Carmaker is giving hybrids a bigger role
Klaus Zellmer in 2023. (Milan Jaros/Bloomberg)
Key Takeaways:
- Volvo Car appointed Klaus Zellmer, former Škoda Auto CEO, as president and CEO to succeed Håkan Samuelsson by Oct. 1, 2027.
- The leadership change comes as Volvo launches a manufacturing overhaul and major product expansion to address competition and grow EV and plug-in hybrid sales.
- Samuelsson will oversee the transition before stepping down, while Volvo deepens regional strategies and cooperation with parent company Geely.
Volvo Car AB’s board of directors appointed Klaus Zellmer as president and CEO to replace Håkan Samuelsson, who’s set to step down next year.
Zellmer, most recently CEO of Volkswagen AG unit Škoda Auto AS, will assume the position no later than Oct. 1, 2027, the Swedish manufacturer said in a statement on Sept. 20. Samuelsson, together with the board, will ensure a “seamless” transition with Zellmer, a global automotive executive with more than 30 years in the industry, it said.
READ MORE: Volvo pivots to long-range hybrid cars
Zellmer has “a strong record of guiding organizations through transformation and changing market conditions,” Volvo Car Chairman Li Shufu said in the statement. “His experience from both the high-end premium segment and high-volume brands is an excellent fit.”
Volvo Car, majority-owned by Chinese carmaker Geely, on Sept. 17 unveiled a broad revamp that includes reshaping its manufacturing network around five plants dedicated to its namesake brand and two shared with partners. The overhaul, designed to help it navigate increasingly fierce competition, includes its biggest-ever product push.
Volvo Car plans to introduce seven new vehicles for Western markets and six for China by the end of the decade in a bid to double its slice of global sales of electric vehicles and plug-in hybrids from around 1.7% currently.
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Samuelsson, 75, brought back last year for a second stint at the helm of one of Europe’s most recognizable auto brands, has been battling to revive growth after a troubled period beset by challenges including U.S. trade tariffs, an aging product portfolio, low capacity utilization, and elevated raw-material costs.
Under Samuelsson, who’s set to step down next spring, Volvo Car is giving hybrids a bigger role due to a slower-than-expected shift to full EVs. The company is also adopting a more regional approach to its lineup and deepening its cooperation with its Chinese parent.
Samuelsson has said Volvo Car is abandoning the idea that broadly identical global models can satisfy customers in Europe, China and the U.S. with increasingly divergent demands.
