Volvo Cars appoints Electrolux CEO Jonas Samuelson to Board of Directors
Volvo Cars has appointed Jonas Samuelson as a member of its Board of Directors, effective immediately, further strengthening the board’s experience and competence.
Mr Samuelson is currently the CEO of Electrolux, the global consumer appliances company, a position he has held since 2016.
He brings a broad and international background and has held several senior management positions at listed companies. Mr. Samuelson also has significant experience in terms of building Scandinavian consumer brands, digital transformation and consumer experience innovation.
Before his current position as Electrolux chief executive, Mr Samuelson was in charge of the group’s European major appliances arm. During his career at Electrolux, which he joined in 2008, he also held the positions of group chief financial officer and chief operating officer.
Additionally, Mr Samuelson has a wide range of experience in the automotive industry and held a number of senior commercial and finance leadership roles with General Motors North America and Saab Automobile during the 1990s and early 2000s.
Following this appointment, the Board of Volvo Cars now consists of the following members:
Li Shufu (Chairman), Lone Fønss Schrøder (Vice-Chairman), Håkan Samuelsson (President & CEO), Winnie Kin Wah Fok, Daniel Li, Winfried Vahland, Betsy Atkins, Tom Johnstone, Michael Jackson, Jim Zhang, Jonas Samuelson, Glenn Bergström, Jörgen Olsson, Marko Peltonen.
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Volvo Car Group in 2019
For the 2019 financial year, Volvo Car Group recorded an operating profit of 14.3 BSEK (14.2 BSEK in 2018). Revenue over the period amounted to 274.1 BSEK (252.7 BSEK). For the full year 2019, global sales reached a record 705,452 (642,253) cars, an increase of 9.8 per cent versus 2018. The results underline the comprehensive transformation of Volvo Cars’ finances and operations in recent years, positioning the company for its next growth phase.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected premium car brands in the world with sales of 705,452 cars in 2019 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.
In 2019, Volvo Cars employed on average approximately 41,500 (41,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).
Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.