Volvo Cars adjusts organisation and governance

Volvo | Jun 17, 2022 at 2:00 AM

Volvo Cars has a strategic direction to become fully electric by 2030 and shape the future of mobility, with strong ambitions on growth and sustainability. To achieve our ambitions and fulfil our purpose; the company is now fine-tuning leadership responsibilities within Volvo Cars.

“Our strategic direction is clear. With the customer in focus we will create value through technology and product development, digital and software capabilities. That’s why we have decided to simplify our structure with clear responsibilities, and increase execution and closer collaboration across the entire business,” said Jim Rowan, CEO, Volvo Cars.

Volvo Cars will transition to a new structure from June 20, which will include:

Björn Annwall, current CFO will become Chief Commercial Officer & Deputy CEO.

Javier Varela, responsible for R&D, Manufacturing, Procurement, Supply Chain and Quality will become Chief Operating Officer & Deputy CEO.

Two Deputy CEO roles are being introduced to reflect the importance of two key areas of our business and their contribution to the company’s growth now and into the future.

Björn will succeed Lex Kerssemakers, who currently leads the Volvo Cars commercial operations and recently announced his plan to retire after 38 years of service with the company. As previously communicated, Lex will remain at Volvo Cars during this transitionary period in an advisory capacity, reporting directly to the CEO and focused on executive level projects. As the recruitment process for Volvo Cars’ new permanent CFO is underway, Johan Ekdahl, currently Head of Global Accounting and Group Reporting, will be appointed as interim CFO.

Henrik Green, current head of Product Creation, will lead a new unit called Advanced Technology & Sustainability to solidify Volvo Cars’ leadership position as a provider of enhanced consumer experience through technology and sustainability, to align with our ambitions to become fully circular by 2040.

The Volvo Cars Executive Management Team (EMT) will consist of Jim Rowan and the following:

At the same time, a broader Group Management Team consisting of EMT and the following key roles will be established:

This disclosure contains information that Volvo Car AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 17-06-2022 08:15 CET.