VOLVO CARS APPOINTS MICHAEL COTTONE PRESIDENT, VOLVO CAR USA AND CANADA REGION

MAHWAH, NJ (March 1, 2023) Volvo Cars has appointed Michael Cottone President of Volvo Car USA and Canada commercial region, as the company embarks on the next phase of its transformation towards electrification and profitable growth.

Cottone brings to the position more than two decades of experience from multiple commercial roles with the company. He takes over responsibility for the American and Canadian markets from Anders Gustafsson, who led the Americas region from 2018.

Cottone will report to Björn Annwall, Chief Commercial Officer & Deputy CEO for Volvo Cars, and join the company’s Group Management Team.

In his most recent role as Regional Vice President for Volvo Car USA's Western Region, Cottone led all operations for the country’s largest geographic territory, which spans from California to Seattle and Chicago to Hawaii. Under Cottone’s leadership, Volvo Cars successfully grew sales of the company’s Recharge models – vehicles with pure electric or plug-in hybrid electric powertrains – in California to a peak of more than half of overall deliveries. Over the past six years, Cottone has been a key part of the management team in the US helping deliver profitable growth for the business and retailers.

Prior to becoming Regional Vice President in 2016, Cottone spent six years leading sales and marketing efforts in the Western Region.

The Volvo Cars Canada sales company will continue to be led by Matt Girgis, Managing Director of Volvo Cars Canada, who has held that position since 2019. During that time, Volvo Cars Canada has achieved strong growth and elevation of the brand in that market. Matt will report to Mike.

“There has never been a better time for Volvo Cars than right now,” said Cottone. “We are at a pivotal moment in our transformation journey with several years of new, fully-electric models that will underpin our growth ambitions.”

“I am looking forward to working with the US and Canada teams and continue to build on the position and profitable growth for Volvo Cars and the retailers.,” Cottone added.

Björn Annwall, Chief Commercial Officer & Deputy CEO for Volvo Cars, said, "Mike’s experience, knowledge and passion for Volvo Cars makes him the right leader to grow the U.S. and Canada as we enter the next era for Volvo Cars.”