Volvo picks Jim Rowan as following CEO, replacing Hakan Samuelsson

STOCKHOLM — Volvo Cars and trucks has hired previous Dyson Team government Jim Rowan as its new CEO to succeed Hakan Samuelsson.

Rowan was Dyson’s CEO among 2017 and 2020 when the British tech company was acquiring an electric powered car, an notion it later dropped. In advance of performing at Dyson, Rowan was COO at BlackBerry maker Study In Motion.

The 56-calendar year-old Scottish government will thrive Samuelsson, 70, on March 21, Volvo stated in a statement on Tuesday.

Rowan is at the moment CEO at U.S-centered purchaser electronics brand name Ember Systems, a position he has held for considerably less than a 12 months. He is taking about just months right after Volvo wrapped up its IPO, the biggest in Europe final 12 months.

Rowan will facial area the undertaking of steering the Swedish automaker, which is the vast majority owned by China’s Geely Keeping, toward its target of having 50 % of its global gross sales from comprehensive-electrical autos by mid-10 years and be an electric-only brand name by 2030.

Volvo reported Rowan’s world-wide practical experience in digitalization, disruption, innovation, engineering and source chains will be beneficial for the automaker to understand its strategic ambitions.

Samuelsson will stay as chairman of electrical auto maker Polestar.

Samuelsson joined Volvo’s board in 2010 and has been CEO at the automaker for just about 10 yrs, with his deal coming to an close this calendar year.

Polestar, in which Volvo owns 49 p.c, aims to go public as a result of a reverse merger with particular-objective acquisition enterprise (SPAC) Gores Guggenheim. The offer is expected to close in the initial half of 2022.

Rowan was Dyson CEO from 2017 to 2020 and chief functioning officer from 2012 to 2017. For the duration of his time at Dyson, Rowan delivered report development and fiscal success for Dyson, in accordance to Volvo’s release.

Rowan labored for Investigation In Movement as COO from 2008-2012. During the period the organization boosted income to $20 billion from $5 billion.

From 1998 to 2005 he was vice president of operations at Flextronics, a $25 billion international producing business with additional than 200,000 staff members at more than 100 factories all over the world.

Rowan was born in Glasgow. He analyzed mechanical and creation engineering and electrical and digital engineering at Glasgow Caledonian University and Glasgow University of Technologies. He holds a master’s diploma in organization with source chain administration and logistics from Northumbria College, northern England.

Reuters contributed to this report

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