Volvo Cars names Klaus Zellmer as new CEO

Volvo Cars' board appointed Klaus Zellmer, currently Skoda's head, as new president and CEO. He will replace Hakan Samuelsson no later than October 1, 2027. Zellmer spent 20 years at Volkswagen Group and made Skoda Europe's third-largest automaker with 8.5% margin in H1 2026.

• Zellmer has led Skoda since 2022, with 8.5% margin in H1 2026
• Volvo targets 8.5% margin by 2030 versus 3.5% last year
• Volvo will launch 13 new models by end-2030: 6 for Europe and US, 7 for China
• Samuelsson returned in 2025 for two years, the fourth CEO change in five years