Volvo Cars CEO Hakan Samuelsson extends contract to 2022

The extension provides the company with management continuity as it continues to transform itself into a global and diversified mobility service provider. "I have enjoyed leading this company tremendously so far and I look forward to continuing the transformation of our company," said Hakan Samuelsson.

Since Mr. Samuelsson became CEO in October 2012, Volvo Cars has undergone a complete transformation. This has established the company as a strong competitor in the premium segment with a completely new range of premium models based on in-house developed platform, powertrain, safety and infotainment technologies.

Several years of record sales and profits, as well as numerous prestigious awards and recognitions for its cars and technologies, confirm that the company's strategy works and that Volvo Cars is now on a firmer footing than it has ever been in its history.

In the coming years, Mr. Samuelsson and Volvo Cars seek to continue this upward trajectory by capitalising on and leading the disruption currently underway in the industry. This ambition is reflected in a new set of longer-term ambitions that Volvo Cars announced earlier this year, which focus on establishing a leading position in electrification, autonomous drive and new models of car ownership and access.