Volvo Cars has decided to fire its CEO. Jim Rowan will be replaced today by his predecessor in the position, who also led Polestar.
Håkan Samuelsson had actually retired after a stint as chairman of Polestar, but now he is returning as director of Volvo Cars.
This comes after the car brand fired Jim Rowan, who replaced Samuelsson in the post back in 2022, with immediate effect.
The brand itself writes this in a press release .
After his stint at Volvo, Håkan Samuelsson took over as Polestar's chairman, a position he left as recently as June last year.
All this after he had lost over 100 million kroner on the brand's IPO. But that doesn't scare the experienced Swede.
Instead, he has now agreed to a two-year term as the chief executive of Volvo. The dismissal of Jim Rowan comes after a period of negative development for Volvo.
Never before has the brand been worth so little. Furthermore, the Swedish-Chinese brand has had to back down several times when it comes to commitments to only build electric cars.
Recently, Volvo Cars has had to admit that it cannot make a living by selling electric cars exclusively in Australia. That was the plan from 2026.
