New CEO announced for struggling Swedish company Volvo Cars

Klaus Zellmer has been appointed President and CEO of Volvo Cars, the company has announced in a press release.

Zellmer will assume the role by October 1st, 2027. He joins from his current position as CEO of Skoda.

"Klaus Zellmer combines deep expertise in the automotive industry with extensive international leadership experience," Eric Li, Chairman of Volvo Cars, wrote in a statement.

"I am very pleased to be joining Volvo Cars at such a pivotal moment in the company's development," Klaus Zellmer said in a comment.

"Few car brands have built such a strong and enduring reputation for safety and consistently applied this core value across the entire mobility sector."

Zellmer, 59, previously served on the management board of Volkswagen Passenger Cars and held several senior positions at Porsche.

Current CEO Håkan Samuelsson recently announced that he would step down when his contract expires this spring.

"I expect to remain until my contract expires in April," Samuelsson told Swedish newswire TT.

Håkan Samuelsson has led Volvo during two periods: first from 2012 to 2022, and a second time starting in April 2025.

"We are seeing the Chinese market collapse drastically, down 30 percent. And in that situation, it is difficult to make the numbers work," Samuelsson told TT in July.