Volvo Cars names Škoda boss Klaus Zellmer as next CEO for a turnaround
Volvo Cars has appointed Klaus Zellmer, current chief executive of Volkswagen's Škoda brand, as its next president and CEO, handing him the task of completing a turnaround at a carmaker whose shares have fallen by around 40% this year.
The Swedish car manufacturer Volvo has found its long-term leader.
Klaus Zellmer will take up the role no later than 1 October 2027, with current CEO Håkan Samuelsson staying on until then to oversee the handover, the company said on Sunday.
The German executive brings more than three decades of experience in the car industry.
Zellmer has run Škoda since 2022, turning it into one of Europe's best-selling brands with record results last year and record electric vehicle deliveries in the first half of 2026.
Before that, he sat on Volkswagen's passenger car management board and spent over 20 years at Porsche, including spells running its German and North American operations.
"Klaus Zellmer combines deep automotive expertise with broad international leadership experience and a strong record of guiding organisations through transformation and changing market conditions," said Eric Li, Volvo's chairman, in a statement.
Zellmer also acknowledged the scale of what he is inheriting.
"After almost 100 years, Volvo Cars' ability to reinvent itself time and again is both a remarkable achievement and an ongoing challenge," he said.
A company mid-overhaul
Zellmer arrives with that reinvention already under way.
Samuelsson returned for a second spell as CEO in April 2025 to steady a company hit hard by American tariffs, since most of its US-bound cars are built in Europe. To achieve that, he launched an 18 billion Swedish krona (€1.6bn) cost and cash plan, cut 3,000 jobs and scrapped Volvo's pledge to go fully electric by 2030.
Last week he set out the next stage at an investor event in Stockholm.
Volvo is targeting an operating margin above 8%, against just 3.5% in 2025, through a 13-model electrified line-up split between seven cars for Western markets and six for China, and a much deeper reliance on majority owner Geely for parts and suppliers.
"One global car won't work, and just adapting it with different colours or trim will not be enough," Samuelsson told investors.
Global sales have continued to decline, and Samuelsson had signalled that his successor should come from inside the industry and understand Swedish culture, which he admitted made for a limited pool.
Zellmer's mix of premium and high-volume experience at Porsche and Volkswagen is what Chairman Li singled out as making him a strong fit.
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