STOCKHOLM, Oct 19 (Reuters) – Chinese-owned car maker Volvo
has appointed a new chief executive to replace Stefan Jacoby,
who suffered a stroke last month but whom the company had
previously said would be resuming the helm shortly.
A company spokesman declined to reveal the identity of the
new top executive, but said that a press conference would be
held in Stockholm at 0730 GMT on Friday.
Volvo was sold by Ford Motor Co to Chinese group
Zhejiang Geely Holding Group in 2010 and has set
ambitious sales targets, but it has been forced to cut
production this year in the face of a slump in demand in Europe.
Jacoby suffered a mild stroke in mid-September, limiting the
mobility in his right arm and leg. He has been on medical leave
since then, though Volvo had said that he was making progress
toward a goal of returning to work soon.
Chief Financial Officer Jan Gurander has been serving as
acting top executive in the interim.
Sources close to the company have also told Reuters that
Jacoby had been at loggerheads with Hans-Olov Olsson, the
vice-chairman who effectively heads the Volvo board, clashing
over issues such as key appointments and group strategy.
