Klaus Zellmer has been appointed as the new President and Chief Executive Officer of Volvo Cars. Zellmer, who was most recently the CEO of Volkswagen AG unit Skoda Auto AS, will take over from the current CEO, Håkan Samuelsson, no later than October 1, 2027. Samuelsson, along with the board, will ensure a smooth transition for Zellmer, who brings over 30 years of experience in the global automotive industry.
Eric Li, Chairman of Volvo Cars, stated that Zellmer's extensive automotive knowledge, international leadership experience, and track record of guiding organizations through transformations and changing market conditions make him an excellent fit for Volvo Cars. Li highlighted Zellmer's experience in both the high-end premium segment and high-volume brands, expressing confidence that Zellmer will build on Volvo's strong foundations and strengthen its position as a leading premium car company.
Zellmer, born in 1967, has a strong background in leading complex transformations. Under his leadership, Skoda became one of Europe's best-selling car brands, achieving record results in 2025 and further growth, including record electric vehicle deliveries, in the first half of 2026. Prior to Skoda, he served as a Member of the Board of Management for Volkswagen Passenger Cars, responsible for Marketing, Sales, and After Sales, and spent over 20 years at Porsche in various senior leadership roles, including CEO of Porsche Deutschland and CEO of Porsche North America.
Håkan Samuelsson has led Volvo Cars in two tenures, from 2012 to 2022 and again since April 2025. His recent return was to develop the company's future strategic roadmap during challenging times for the automotive industry, providing stability and preparing for a long-term successor. Analysts currently have a "Buy" consensus for Volvo Cars, with a mean consensus of "Underperform" among 12 analysts, and an average target price of 18.77 SEK, representing a +11.54% spread from the last close price of 16.83 SEK.
