Volvo Cars appoints Fredrik Hansson as new CFO
Volvo Cars has appointed Fredrik Hansson as its new Chief Financial Officer (CFO), effective immediately.
The appointment comes as part of a broader management overhaul at the Sweden-based automaker, which has been grappling with mounting tariff pressures and market uncertainty.
Hansson, who has previously served as the company’s deputy CFO since 2023, takes over from Johan Ekdahl, who has held the CFO position since 2022.
Ekdahl’s departure follows a series of executive changes, including the unexpected return of former CEO Hakan Samuelsson last month, who has been reappointed to lead the company for the next two years during these turbulent times.
In a statement, Samuelsson emphasized the need for efficiency and financial performance as Volvo navigates the complexities of the current market.
“Fredrik’s deep knowledge of the company, combined with his strategic understanding of the industry’s complexities, will be a valuable addition to the company’s executive management team,” he said.
This change in leadership comes as Volvo Cars faces increasing volatility, with the company reporting a 23% drop in its stock value so far this year. Despite this, the firm remains optimistic about the future as it prepares to release its first-quarter results on April 29, 2025.
Volvo Cars, which is majority-owned by Geely, has been under pressure from a combination of global trade tensions, rising tariffs, and a challenging economic environment that has caused a slowdown in automotive sales.
The company’s focus on strategic initiatives, including electric vehicle development, has been impacted by these external factors.
As Hansson steps into the CFO role, the company’s leadership is expected to focus on bolstering financial stability and driving growth during an uncertain period.