Volvo Cars named Klaus Zellmer as its next chief executive, poaching one of Volkswagen Group's top-performing brand chiefs to launch a raft of new vehicles and revive growth in a ferociously competitive market.
Zellmer, the current CEO of VW's Skoda, will succeed Håkan Samuelsson, a 75-year-old veteran of Volvo, no later than October 2027.
Zellmer spent more than two decades at Porsche, now also part of the VW Group, culminating in a stint leading the sports-car brand's North American business through a period of strong growth in the 2010s.
"His experience from both the high-end premium segment and high-volume brands is an excellent fit for Volvo Cars," Chairman Eric Li said Sunday in a statement. Li founded China's Geely automotive empire, which bought Volvo from Ford after the 2009 global financial crisis.
On Thursday, Samuelsson and his team unveiled a plan to double Volvo's market share by introducing 13 new models, seven in Western markets and six in China, while saving costs by sharing more parts with Geely.
The strategy is a response to extremely tough industry conditions as long-established European brands battle new rivals such as Geely in China, emerging markets and, increasingly, their home region. Meanwhile, the much higher U.S. tariffs introduced by President Trump last year and the proliferation of new technologies such as electric vehicles and self-driving vehicles have piled on additional costs.
"The challenges for the car industry are immense, but our strategy gives a clear answer to how we adapt to these," Samuelsson said.
The shake-up will herald the end of Samuelsson's second stint as CEO of Volvo. He first led the company through its 2021 minority initial public offering before retiring to make way for Jim Rowan, a Scottish tech executive. When Volvo's spending on a new tech platform spiraled, Rowan quit and Samuelsson was brought out of retirement to lead a turnaround.
Under Zellmer, Skoda has become a bright spot in the otherwise gloomy financial picture at VW. The Czech brand, bought in stages after the fall of the Berlin Wall, has grown to become Europe's third-largest car business by offering VW technology at lower prices than the VW brand itself.
The operating margin-a key measure of profitability for automakers-was 8.5% at Skoda in the first half of 2026, a level more typical of luxury brands such as Mercedes and BMW than a mass-market badge. The Volkswagen brand reported a 2.4% margin for the same period.
At Volvo, Zellmer will face a steeper cost structure than the one that helps fuel Skoda's profits. Volvo is based in Sweden, where costs run far higher than in the Czech Republic, though the company is building a new factory in neighboring Slovakia.
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