Håkan Samuelsson is the new CEO for Volvo car group

Team OD Updated: May 09, 2013, 04:14 PM IST

Member of Volvo Car Group Hakan Samuelsson has been appointed as the new president and CEO of the company. He replaces Stefan Jacoby who chose to leave Volvo for unknown reasons. Hakan has been in the automobile industry for more than 35 years and was also the CEO of MAN SE for four years. He has been an independent board member of Volvo from the last two years.

HÃ¥kan Samuelsson said, "My time on the board has provided me with insight in the Volvo brand and the company. My focus will be on execution and performance, to secure profitability and meet our sales objectives. No other business is as demanding, complex and full of challenges as the automotive industry. I look forward to leading Volvo Car Group in the most exciting period of its history."