Volvo Cars names Škoda boss Klaus Zellmer as next CEO for a turnaround

Swedish car manufacturer Volvo has appointed German executive Klaus Zellmer as its next CEO, with a start date no later than October 1st, 2027. Current CEO Håkan Samuelsson will oversee the transition until then. Zellmer, who has been leading Škoda since 2022, has transformed it into one of Europe's top-selling brands, delivering record results last year and record electric vehicle deliveries in the first half of 2026.

Prior to that, he served on Volkswagen's passenger car management board and spent over two decades at Porsche, including roles managing its German and North American operations. Volvoces chairman Eric Li praised Zellmer's extensive automotive expertise, international leadership experience, and track record of guiding organizations through transformation and changing market conditions.

The Swedish automaker acknowledged the challenge of reinventing itself after 100 years, but noted that Zellmer's leadership is already underway. Samuelsson returned to Volvo in April 2025 to stabilize the company, which was impacted by American tariffs. He implemented an 18 billion Swedish krona ($1.6 billion) cost and cash plan, reducing the workforce by 3,000 and abandoning Volvo's previous goal to go fully electric by 2030.

Samuelsson now outlined a plan for a 13-model electrified lineup, split between seven cars targeting Western markets and six for China, with greater reliance on majority owner Geely for parts and suppliers. Given the decline in global car sales, Samuelsson emphasized that one global car with different colors or trims will not suffice.

The global CEO must come from within the industry and understand Swedish culture, which limited the candidate pool. Zellmer's background at Porsche and Volkswagen, combining premium and high-volume experience, makes him a strong fit for the challenge.