Volvo's CEO is out!

Jim Rowan is stepping down as CEO after three years at the helm. His successor, Håkan Samuelsson who previously led Volvo from 2012 to 2022, will return for a two-year term while the company searches for a long-term leader.

Sales of all-electric Volvo models in the U.S. have been underwhelming, leading the automaker to postpone its plan to go fully electric by 2030.

Volvo’s board emphasized the need for experienced leadership to navigate these challenges.

Source: InsideEVs

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