Volvo Cars names Škoda boss Klaus Zellmer as next CEO for a turnaround

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Published: 2026-09-21 • Permanent link

Volvo's Boardroom Shake-Up: A New Era for the Struggling Automaker

Klaus Zellmer, the current chief executive of Volkswagen's Škoda brand, has been named as the next president and CEO of Volvo Cars, taking over the reins from Håkan Samuelsson. The appointment comes as the Swedish automaker faces a critical period in its history, with its shares having fallen by over 30% in the past year. Zellmer's task is to complete a turnaround at Volvo, which has struggled to regain its footing in the highly competitive automotive market. His appointment is seen as a bold move by the company's board of directors, who are eager to inject new life into the brand.

This move is a significant development for investors, who have been waiting with bated breath for a new direction at Volvo. The company's shares have been under pressure in recent months, and a change in leadership is seen as a necessary step to restore confidence in the brand. Zellmer's experience at Škoda, where he has overseen a significant turnaround in the brand's fortunes, makes him an attractive candidate to take the reins at Volvo. His appointment is expected to have a positive impact on the company's stock price, which could help to stabilize the market.

Volvo's struggles are not unique to the company, however. The global automotive industry has faced significant challenges in recent years, with many manufacturers struggling to adapt to changing consumer preferences and technological advancements. The rise of electric vehicles, for example, has forced companies to rethink their product lines and production strategies. Volvo, which has been at the forefront of electric vehicle development, is well-positioned to capitalize on this trend, but it still faces significant competition from established players.

As Zellmer takes the reins at Volvo, he will face a number of challenges, including the need to restore confidence in the brand and drive sales growth. The company's sales figures have been disappointing in recent months, and it will need to find new ways to differentiate itself from the competition. Zellmer's experience at Škoda suggests that he has the skills and expertise to drive a turnaround, but the road ahead will be long and difficult. The company's stock price will be watching closely to see how he performs in the coming months.