Fredrik Hansson was named the new chief financial officer (CFO) of Volvo Cars on Thursday, with immediate effect.
According to News.Az, which cites Reuters, the action is the most recent in a string of leadership changes at the Swedish manufacturer.
At a time when the market is unclear and tariff pressures are increasing, Volvo Cars surprisingly rehired former CEO Hakan Samuelsson last month to lead the firm for the next two years.
It announced on Thursday that Johan Ekdahl, who had been the group’s deputy CFO since 2022, was departing the firm and that Hansson, who had been the group’s CFO since 2023, would assume the role on Thursday.
“We are currently navigating challenging and fast-moving market conditions, where efficiency and financial performance are key,” Samuelsson said in a statement.
“Fredrik’s deep knowledge of the company, combined with his strategic understanding of the industry’s complexities, will be a valuable addition to the company’s executive management team.”
Jim Rowan, who had led the organization since 2022, was succeeded by Samuelsson.
On April 29, Volvo Cars is scheduled to release its first-quarter financial results.
The firm, which is mostly controlled by Geely of China, has seen a 23% decline in share prices this year.
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