Volvo Cars has appointed Klaus Zellmer as its next president and chief executive officer, with the executive set to take over from Hakan Samuelsson no later than October 1, 2027, marking a planned leadership transition at the Swedish automaker, according to reports.
Samuelsson, who returned as Volvo Cars CEO in 2025, is expected to step down when his current contract expires in April 2027. He had previously led the company from 2012 to 2022 before returning to the top position last year.
The leadership change comes as Volvo works through a difficult period marked by US tariffs, weaker sales in China, softer electric-vehicle demand and high development costs. The company is majority-owned by China's Geely Holding, Reuters reported.
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The incoming CEO will take charge as Volvo executes an ambitious product strategy announced this week. The automaker plans to launch 13 new models by 2030 and aims to double its market share.
The planned portfolio includes six models for China and seven for Western markets, with a mix of electric vehicles and hybrids.
Volvo is also targeting a pre-tax margin of more than 8%, compared with 3.5% in 2025. To lower development and sourcing costs, the company plans greater sharing of platforms and components with Geely.
The automaker faces additional challenges in maintaining access to the US market while managing the separation of its Western and Chinese technologies. Its sister brand Polestar is facing a US sales ban.
Volvo Cars' shares have remained near record lows despite Samuelsson's return, with the stock down more than 45% so far this year, according to Reuters.
Also Read | Volvo To Cut Up To 800 US Jobs Amid Tariff Uncertainty: Reuters
The CEO transition therefore comes at a critical stage as the company seeks to execute its new product and profitability strategy.
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