Volvo Car brings back Samuelsson as CEO to steer turnaround [Fortune]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: Fortune
Samuelsson, 74, will replace Jim Rowan on April 1 and serve for two years as the board looks for a long-term successor, the company said Sunday. Samuelsson was Volvo's CEO for a decade until 2022. Volvo is among European manufacturers hit by President Donald Trump's additional 25% auto duties . While it has a factory in South Carolina, Volvo still exports a significant share of vehicles from Europe to the US. The company's shares rose 1.2% as of 9:12 a.m. on Monday in Stockholm. The trade tensions and waning demand for EVs have weighed on the stock, which has slumped around 48% in the past year. “With fast-moving technological shifts, growing geopolitical complexity, and intensifying competition across regions, the board believes the company is best served by leadership with deep industrial experience, deep knowledge of our group, and a proven ability to execute in challenging environments,” Volvo said. Controlled by China's Geely, Volvo in February warned that it will strugg
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