Jim Rowan Resigns As Volvo CEO; To Be Replaced By Former CEO Samuelsson

Volvo has announced the resignation of its CEO, Jim Rowan, after a tenure of nearly three years. The news was confirmed in a statement that thanked the executive for his contributions over the years, while not clarifying the reasons behind his exit. Rowan will be replaced by the Geely-owned company’s former CEO, Hakan Samuelsson, from April 1 2025, who will serve a two-year term in the interim while the company searches for a permanent replacement.

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Hakan Samuelsson, who previously served as the CEO of Volvo from 2012 to 2022, will replace Rowan in the interim

During his term at the company (March 2022- March 2025), Rowan oversaw the introduction of many new products and was instrumental in the company’s push towards EVs. Few EVs that debuted during his tenure include the EX90, EX30, and ES90, all of which are built on different iterations of Volvo’s Scalable Product Architecture (SPA) and feature the Snapdragon Cockpit Platform. However, last year, the slow adoption rate of EVs by consumers caused the company to abandon its plans of having an all-electric lineup by 2030.

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Commenting on Samuelsson’s appointment, Eric Li, Chairperson of the Board, said, "As we accelerate our transformation toward intelligent electrification and sustainable growth, strong leadership is key. To guide this next chapter, the Board of Directors has appointed Håkan Samuelsson as CEO of Volvo Cars. With his deep experience and vision, Hakan is the right leader to drive Volvo Cars forward, strengthening our innovation in safety, sustainability, and technology, while creating lasting value for our customers and shareholders.”

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Samuelsson previously led Volvo from 2012 to 2022, and has served as Chairperson of Polestar until 2024. He will be proposed as a new member of the Volvo Cars Board at the company's upcoming annual general meeting.