Volvo has recruited Klaus Zellmer, a top Volkswagen Group executive known for leading Škoda to profit margins rivaling BMW and Mercedes, to replace Håkan Samuelsson as CEO. Zellmer’s appointment signals Volvo’s push to revitalize its brand with new models and improved profitability. His track record at Škoda, where he drove strong financial performance, makes him a key figure in Volvo’s turnaround strategy.

The move comes as Volvo seeks to strengthen its position in the competitive luxury auto market. Zellmer will oversee the launch of upcoming vehicle lines aimed at boosting sales and margins. This leadership change reflects Volvo’s commitment to adopting proven automotive leadership to drive growth.

The Wall Street Journal reported the hire as a strategic step in Volvo’s long-term recovery plan.