Volvo Car Corporation has appointed Stephen Odell as its president and chief executive officer. He replaces Fredrik Arp, who has decided to leave the company.
Odell, who is currently chief operating officer at Ford, will take up his new role on October 1 and will be responsible for Volvo’s global operations based at its headquarters in Gothenburg, Sweden. He will report to Volvo’s chairman Lewis Booth.
Alan Mulally, president and chief executive of Ford, says: “Given his strong track record at Ford, Jaguar and Mazda, the time is now right for Stephen to take up this new challenge at Volvo. I believe that Stephen is the right person – together with Lewis Booth and the Volvo Cars Management Team – to take Volvo forward and to return the business to sustainable profitability.”
Odell says his new strategy will “enhance the premium nature of Volvo” when he joins the organisation next month.
He adds: “We have a restructuring plan in place that will help to deliver a more competitive business and that enables Volvo to continue to build upon its core strengths.
“Volvo will adopt a more stand-alone approach within Ford Motor Company, while still leveraging product development and purchasing synergies with other Ford operations.”