In April last year, Volvo Cars surprisingly removed Jim Rowan from his position as CEO and president, a role he had held since January 2022. Rowan came from the tech world, and his appointment aimed to elevate Volvo to a new dimension with a CEO possessing "extensive knowledge in software, digital transformation, and innovative consumer products." For instance, he had previously worked for Dyson, the premium small home appliances brand.
The strategy did not succeed, leading to Volvo having to adjust its electrification goals for 2030, and during his tenure, Volvo's shares plummeted by 65%. However, there was no immediate successor: Håkan Samuelsson, who had led the company from 2012 to 2022, was reinstated temporarily while a new CEO and president were sought.
The initial plan was for the interim CEO not to stay in the position for more than two years, but this was not necessary. Klaus Zellmer (1967) will take over as the new CEO of Volvo Cars from October 1. He comes to this role with a strong track record at Skoda, where he took the helm in July 2022, amidst the semiconductor crisis and shortly after the start of the Ukraine War.
During his tenure, the Czech brand under the Volkswagen Group has continuously broken its own records. Its global sales increased from 731,300 cars to 1,043,000 units in 2025 (+43%); revenue surged to ¤30.105 billion (+43%), and the operating margin (operating profit in relation to revenue) rose from 6.1% to 8.5%. For comparison, in 2025, this figure was less than 3.8% for both the Volkswagen Group and its namesake brand.
While Skoda's international expansion accelerated during this period, particularly in India and Southeast Asia, most of these achievements were in Europe. Here, it managed to become the second best-selling brand in the first half of 2026, with 457,663 units (up by 11.5%), only surpassed by Volkswagen. In 2022, it was tenth. Globally, its registrations also increased since January, albeit slightly less (555,700 vehicles, up by 9.1%), and revenue reached ¤16 billion (+6.3%), maintaining the same operating margin.
Furthermore, with a significant focus on electric cars, which now represent one in every five registrations for Skoda globally; this figure rises to 24% when considering plug-in hybrids.
In addition to this, Zellmer brings over 30 years of experience in the automotive industry. Prior to Skoda, he held positions overseeing Marketing, Sales, and After-sales at Volkswagen. He also spent over 20 years at Porsche, eventually becoming the CEO of the sports car brand in Germany and North America.
"His experience in both the high-end premium segment and high-volume brands aligns perfectly with Volvo Cars," stated the Swedish manufacturer, expressing confidence that his background will be instrumental in "initiating the next phase with a clear ambition to strengthen our position as a leading premium car company."
Volvo's Largest Product Offensive
Last week, the company announced its most ambitious product plan in its 99-year history, involving the launch of 13 completely new models from now until the end of 2030. Seven will target Western markets, and six will cater to China, where its owner, the Geely Group, is based.
This will result in a clearly regionalized portfolio, focusing on pure electric vehicles, aiming to double its market share, as well as third-generation hybrids for customers still hesitant to transition to fully electric mobility. These initiatives will lay the foundation for achieving "solid growth and an EBIT margin exceeding 8% in the long term."
Meanwhile, Zellmer has emphasized aspects such as "safety, design language, and brand identity clarity, along with the ability to reinvent itself time and time again."