From Yahoo Finance: 2025-03-31 12:33:00

Volvo Cars appoints Hakan Samuelsson as CEO, citing his industry experience to navigate Trump’s tariffs and shift to electric cars. Samuelsson revitalized the brand during his previous tenure and led Volvo through Trump’s first term. Investors view the move as a return to Volvo’s roots. Samuelsson, 74, will serve for two years while the company searches for a long-term replacement. Volvo’s shares fell slightly on Monday, hitting a new all-time low. Geely, Volvo’s owner, is restructuring its holdings amidst challenges in the EV market. Rowan’s appointment coincided with industry changes, with Volvo facing EU and Trump tariffs. Volvo may shift more production to its U.S. plant to mitigate tariff impacts. Volvo’s exposure to tariffs and slower EV uptake led to revised targets and concerns about future performance. Samuelsson’s return is seen as a safe bet to buy time for finding a new CEO.



Read more at Yahoo Finance: Volvo goes back to car industry basics with surprise CEO switch