Volvo Cars appoints new CFO in latest management change

STOCKHOLM (Reuters) -Sweden-based Volvo Cars has appointed Fredrik Hansson as its new chief financial officer (CFO) effective immediately, it said on Thursday in the latest change to the auto maker's management.

Last month, Volvo Cars unexpectedly brought back former CEO Hakan Samuelsson to head the group for the next two years at a turbulent time marked by mounting tariff pressures and market uncertainty.

It said on Thursday that Hansson, the group's deputy CFO since 2023, would take on the job of CFO on Thursday and that Johan Ekdahl, who held the position since 2022, was leaving the company.

"We are currently navigating challenging and fast-moving market conditions, where efficiency and financial performance are key," Samuelsson said in a statement.

"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."

Samuelsson replaced Jim Rowan who had run the group since 2022.

Volvo Cars is due to report first-quarter results on April 29.

Shares in the group, which is majority-owned by China's Geely, are down 23% this year.

(Reporting by Anna Ringstrom, editing by Louise Rasmussen and Terje Solsvik)

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