Volvo returns to automotive fundamentals with unexpected CEO change
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Volvo Car has made a sudden decision to appoint Hakan Samuelsson as its CEO, as per analysts and investors. Samuelsson, who previously led the company from 2012 to 2022, oversaw significant developments such as revitalizing the Volvo brand and overseeing its IPO in 2021. With his extensive experience in the automotive industry, including navigating challenges during Trump's presidency, Samuelsson is seen as a suitable choice for steering Volvo through uncertainties like Trump's potential tariffs on imported cars and the shift towards electric vehicles. The decision contrasts with the outgoing CEO, Jim Rowan, who lacked automotive industry experience. The appointment of Samuelsson is viewed positively by stakeholders like Volvo's board chair and major shareholders, emphasizing the importance of a comprehensive strategy in conjunction with Samuelsson's leadership. Although the news came as a surprise to some, it is perceived as Volvo returning to its core strengths. Samuelsson, aged 74, will serve for two years while the company seeks a permanent replacement. Despite Volvo's shares declining since its 2021 listing, analysts note operational improvements within the company despite its stock performance.

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