Volvo Cars Brings Back Håkan Samuelsson as CEO to Tackle Challenges

Muskaan Kapoor

31 Mar 2025 — 2 min read

Volvo Brings Reappoints Former CEO Håkan Samuelsson

Volvo Cars has brought back Håkan Samuelsson as CEO, replacing Jim Rowan. Samuelsson, who led Volvo from 2012 to 2022, will take charge for two years. His return comes as Volvo faces high U.S. tariffs, slow electric vehicle (EV) sales, and financial struggles. The leadership change aims to steady the company and deal with these challenges.

Volvo Brings Back Former CEO Håkan Samuelsson

Volvo Cars has announced that Håkan Samuelsson will take over as Chief Executive Officer, replacing Jim Rowan, who stepped down on March 31. Samuelsson, 74, will lead the company for two years while Volvo searches for a long-term replacement.

Samuelsson previously helped Volvo grow its global reach and pushed for EV development. His return signals a move to tackle the company’s current issues.

Handling U.S. Tariffs and Trade Issues

Volvo faces trade problems as U.S. President Donald Trump has imposed a 25% tariff on imported vehicles, impacting manufacturers like Volvo that rely on exports to the U.S. Samuelsson had earlier overseen Volvo's South Carolina plant to reduce such risks. His experience will help in managing these challenges.

Volvo is also making changes to its supply chain. It moved the production of its EX30 model from China to Belgium to avoid EU tariffs on Chinese-made EVs. This highlights the growing impact of global trade rules on carmakers.

Volvo’s EV Plans and Financial Troubles

Volvo had planned to switch fully to electric cars by 2030 but has now stepped back from this goal due to slow EV sales. Samuelsson is expected to rethink Volvo's EV strategy to match market demand.

Financially, Volvo has struggled under Rowan, with its stock price falling sharply. The decision to bring back Samuelsson is aimed at rebuilding investor trust and bringing stability.

Volvo's Chairperson, Eric Li, has backed Samuelsson’s return, highlighting his leadership and deep industry knowledge.

With Samuelsson back in charge, Volvo hopes to strengthen its position, adapt to changes, and ensure steady growth.

Håkan Samuelsson: A Veteran Leader with Global Experience

Håkan Samuelsson holds a degree in Mechanical Engineering from the Royal Institute of Technology in Stockholm. He served as the CEO of Volvo Cars from 2012 to 2022. Prior to that, Samuelsson was CEO of MAN Truck & Bus SE from 2000 to 2009. He has also been a board member for companies like Siemens, Scandlines, and Volvo Group. In addition to his role at Volvo, he was Chairman of Polestar and has held various advisory and board positions, focusing on innovation and sustainability throughout his career.