Hakan Samuelsson reappointed as Volvo’s CEO amidst US tariffs and rising competition

Investing.com -- Volvo (OTC:VLVLY) Car (VOLCAR.B) has reappointed Hakan Samuelsson as its chief executive officer as the Swedish automaker confronts increasing challenges from potential U.S tariffs and escalating competition.

Samuelsson, aged 74, has a long history with the company, having served on its board since 2010 and acting as CEO for a decade until 2022.

During his tenure, he played a key role in repositioning the brand and supervising the initial public offering. Samuelsson is set to take over from Jim Rowen on April 1 and will serve a two-year term while the board seeks a long-term successor, the company announced Sunday.

The company stated that given the rapid technological changes, growing geopolitical complexity, and escalating competition across regions, it believes that leadership with extensive industrial experience, deep understanding of the group, and a proven capacity to execute in challenging environments is what the company needs at this time.

Volvo Car is looking to navigate this challenging period with Samuelsson at the helm, leveraging his experience and knowledge of the company.

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