The automotive industry is currently challenged by different headwinds driven by geopolitical and macroeconomic uncertainties that impact the entire industry, including market sentiment, rapid technology shifts and supply chains. Volvo Cars is taking a further step in gearing up to navigate this environment with speed and agility.
Today, Volvo Cars is announcing some organisational changes that are designed to increase simplicity, speed and collaboration and reduce complexity by flattening our structure in the Commercial part of the business - enhancing the responsibilities of the regions and empowering the employees that are closest to the customers to make key decisions.
"In a rapidly changing world, we need to ensure our organisation is equipped to navigate a more challenging market. We are now regrouping our commercial leadership team with a focus on making Volvo Cars even stronger with increased speed and efficiency," says Jim Rowan, CEO at Volvo Cars.
Volvo Cars will update its leadership responsibilities to mirror these market conditions, and from November 1, 2024, those changes include:
Arek Nowinski will become President, International Markets and lead our Europe, US & Canada, APEC, Latin America and Global Importers business as well as volume planning and global offer.
Gretchen Saegh-Flemming, who leads our marketing teams globally, will lead Customer Experience & Marketing going forwards, which will include brand, customer care and customer experience insights and analytics.
Oscar Bertilsson Olsborg, will become Head of Global Commercial operations. Alongside retailer- and service development he will be responsible for Commercial Digital, and will join the GMT, reporting to Jim Rowan.
Erik Severinson, Chief Product & Strategy Officer will lead commercial strategy, in addition to company and product strategy, programme management, sustainability, digital, quality and energy business.
Björn Annwall, current Chief Commercial Officer & Deputy CEO will step out of his role and support the transition of the new organisation before taking his next step outside of Volvo Cars.
"Over the past nine years, Björn has established a strong team around him that will continue the important work ahead, and I look forward to working closely together with him to enable this transition. I would also like to extend my warmest thanks to Björn for his tremendous contribution to Volvo Cars over the years, including the pivotal part he played in our successful listing on the stock market, advancing our shift towards electrification and our expansion into new markets," said Jim Rowan, CEO, Volvo Cars.
"It has been a privilege to be part of Volvo Cars journey these years in various roles. We have grown in sales volume and market earnings, gone from a private to a listed company, strengthened our brand and digital capabilities, built a strong team, and advanced our position in the premium market. Volvo Cars remains on an exciting journey in electrification and has an important role to play in the automotive sector going forwards," says Björn Annwall.
The Volvo Cars Executive Management Team (EMT) will consist of the following:
- CEO & President, Jim Rowan
- Chief Finance Officer, Johan Ekdahl
- General Counsel & Chief Legal Officer, Helen Hu
- Chief Manufacturing & Supply Chain Officer, Francesca Gamboni
- Chief Product & Strategy Officer, Erik Severinson
- Chief People Officer, Hanna Fager
- Chief Engineering & Technology Officer, Anders Bell
- Chief Communication & External Affairs Officer, Olivia Ross-Wilson
The updated and broader Group Management Team consisting of EMT and the following key roles:
- President, APAC, Xiaolin Yuan
- President, International Markets, Arek Nowinski
- President, US/Canada, Mike Cottone
- Head of Global Customer Experience & Marketing, Gretchen Saegh-Fleming
- Head of Global Sustainability, Vanessa Butani
- Head of Global Performance Steering, Fredrik Hansson
- Head of Global Software Engineering, Alwin Bakkenes
- Head of Global Design, Jeremy Offer
- Head of Global Digital Core, Fredrik Olsson
- Head of Global Quality, Johan Taws
- Head of Global Commercial Operations, Oscar Bertilsson Olsborg
- Senior Advisor, Geert Bruyneel
For further information please contact:
Volvo Cars Media Relations
+46 31-59 65 25
media@volvocars.com
Volvo Cars Investor Relations
John Hernander
+46 31-793 94 00
investors@volvocars.com
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Volvo Cars in 2023
For the full year 2023, Volvo Car Group recorded a record-breaking core operating profit of SEK 25.6 billion. Revenue in 2023 amounted to an all-time high of SEK 399.3 billion, while global sales reached a record 708,716 cars.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker "VOLCAR B".
"For life. To give people the freedom to move in a personal, sustainable and safe way." This purpose is reflected in Volvo Cars' ambition to become a fully electric car maker and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to achieve net-zero greenhouse gas emissions by 2040.
As of December 2023, Volvo Cars employed approximately 43,400 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).
