Volvo has brought back its former boss to try and steady the ship

Jim Rowan has left his job as head of Volvo with almost immediate effect, and the Swedes are bringing back ex-boss Håkan Samuelsson to act as Chief Executive Officer and President on an interim basis. And yes, this does sound like we’re straying into the world of football management.

“It has been a privilege to lead Volvo Cars and work alongside such an exceptional team,” said Rowan – who joined Volvo from the tech industry in 2022 – while not giving a reason for his departure. 

“Together, we’ve made significant progress in building a fast-growing, trusted brand and launched some of the industry’s most advanced and safety-oriented products — benefiting our customers and the broader community. I wish everyone at Volvo Cars continued success as the journey continues.”

Hmm. Volvo’s share price has dropped almost 70 per cent since it was first listed in 2021. Things are about to get even more tricky for the car industry too, with US tariffs on imported cars and parts coming into play. Thanks to its Geely ownership, Volvo will also be affected by the US decision to ban Chinese tech in cars on its roads.

Samuelsson has returned to serve a two-year term. With Volvo saying that appointing a new-old boss “ensures stability while preparing to appoint a long-term successor.”

The Swede was on the board at Volvo from 2010 and served as CEO between 2012 and 2022. And yes, that does mean some pretty successful cars were launched under his leadership.

“We are very pleased to welcome Håkan Samuelsson back as CEO,” said Eric Li, Chairperson of the Board and the founder of Geely. “Håkan led Volvo Cars through one of its most transformative and value-creating decades — revitalising the brand, expanding into new markets, and successfully executing its IPO. He brings a rare combination of industrial depth, strategic clarity, and proven leadership and Håkan has a broad knowledge of our group.

"As the industry enters an even more complex phase, we believe his experience and steady hand are exactly what is needed to strengthen Volvo Cars’ global position and unlock its next wave of potential.

“At the same time, we want to thank Jim Rowan for his important contributions. His leadership over the past three years has accelerated Volvo Cars’ transition into a software-led, connected car company. His commitment and energy have built a strong foundation in digital capabilities, and we are grateful for his efforts during a time of significant change. We look forward to building on this foundation with renewed focus and industrial momentum.”

What do we reckon then folks? What should Volvo’s ‘next wave of potential’ look like?