Volvo Car Corporation Board of Directors decides on the strategic direction for China
New Chief Financial Officer and Head of Product Strategy & Vehicle Line Management appointed
On December 9, the Board of Volvo Car Corporation (VCC) held a regular meeting at the VCC headquarters in Gothenburg, Sweden. The Board agreed the strategic direction of Volvo's growth plan in China and requested the China team to continue the development and submit it for discussion and approval at the next Board meeting.
"The board made several key decisions to set the strategic direction for Volvo's business in order to guide the company and our future business success," Li Shufu, Chairman of the Board, said after the Board meeting.
"We have a common and undivided focus to create a sustainable plan for Volvo Cars' way forward in China. This plan will be based upon a thorough analysis of which models to build in China and which to import, anticipated volumes and the local production capacity to deliver these cars," Mr Li added.
The focus is to continue Volvo's global leading position in the areas of Safety and Environment and commit to core brand values of Quality and Scandinavian Design and continue to be a luxury car brand in the auto industry.
The Board also decided on two key appointments for the Volvo Cars Executive Management in order to strengthen the management team:
Until then Hans Oscarsson will continue in his present role as acting CFO, and following Jan Gurander's arrival to Volvo Cars, Hans Oscarsson will continue as deputy CFO.
"Volvo Car Corporation is going through a very challenging period and we now have a broad management team with the ability to be transparent and take well grounded decisions in a fast and efficient way ", said Stefan Jacoby, President & CEO, Volvo Car Corporation.
He continued: "Now being a stand-alone company, we need to utilize our strength being small, and shorten our lead times in order to put new products on the market faster, based on sufficient market input."
Jan Gurander, new Chief Financial Officer at Volvo Car Corporation, has a current position at MAN Diesel & Turbo SE, where he is a member of the Executive Board and Chief Financial Officer since February 2008. He has an extensive experience from a number of top financial positions within companies like Investor, Scania and AB Volvo.
"It is very encouraging to welcome such an experienced and skilled person as Jan Gurander to Volvo Car Corporation", said Stefan Jacoby. "Jan will play a very important role in the transformation of Volvo Cars as a stand-alone company and lead the next stage of the development of our financial strategy on a global basis" Jacoby added.
Lex Kerssemakers, currently head of Volvo Cars Overseas Corporation, has 25 years of experience from key positions within Volvo Cars, giving him a deep understanding and knowledge about the product planning process. His new position as Senior Vice President, Product Strategy & Vehicle Line Management will give him a key role in the development of the next generation of cars from Volvo.
Product Strategy & Vehicle Line Management is a new function focusing on the management of the car lines. This will make it possible for the engineering side to focus on developing the next generation of products.
"Lex has a broad experience of this very complex work, which is one of the core activities within a car company. As head of Volvo Cars Overseas Corporation he has added a deep understanding of the market place", said Stefan Jacoby and continued:
"The support expressed by Li Shufu and the Board of Directors is a very valuable asset in the continuous progress for the new Volvo Car Corporation."
The new structure of Volvo Cars Executive Management Team will be effective from 1 January 2011 and includes the following members:
Stefan Jacoby, President & CEO
Olle Axelson, Public Affairs
Bengt Banck, Quality & Customer Satisfaction
Bernt Ejbyfeldt, Purchasing
Jan Gurander, Finance & IT from April 2011
Hans Oscarsson, Acting CFO, Deputy CFO
Paul Gustavsson, President's Business Office
Magnus Hellsten, Manufacturing
Gerry Keaney, Marketing, Sales & Customer Service
Lex Kerssemakers, Product Strategy & Vehicle Line Management
Peter Zhang, Vice President, Geely Automobile
Björn Sällström, Human Resources
Paul Welander, Research & Development (acting)
Elisabet Wenzlaff, Legal Counsel