Volvo Cars Appoints Klaus Zellmer as Next CEO

Volvo Cars has appointed Klaus Zellmer, the current CEO of Skoda Auto, as its next president and chief executive officer. Zellmer is expected to assume the role by October 1, 2027, succeeding Håkan Samuelsson. Samuelsson, who returned to the position in 2025 to stabilize the company following American tariffs and falling global sales, will remain in his post until his contract expires in April.

The leadership transition occurs as Volvo struggles with profitability and a 30 percent collapse in the Chinese market. Samuelsson is currently overseeing a cost and cash plan totaling 18 billion Swedish krona, which involves cutting 3,000 jobs and abandoning a previous pledge to be fully electric by 2030.

Under Zellmer's leadership, the company aims to reach an operating margin between 8% and 8.5% by 2030. This goal coincides with the largest product push in the company's history, featuring 13 new electrified models tailored for Western and Chinese markets. To support this turnaround, Volvo will reshape its manufacturing network around five dedicated and two shared plants while increasing cooperation with its majority owner, Geely, for parts and suppliers.