Volvo has named Tony Nicolosi, chief executive of Volvo Car Financial Services U.S., as the acting head of its operations in the US. Nicolosi, in a temporary basis, is the replacement of John Maloney, who had been the CEO of Volvo Cars North America since 2011. Maloney is leaving the company. Volvo executives said that they will name the permanent president and CEO of the carmaker’s US operations later.
The move is part of a management shakeup aimed at boosting Volvo’s sales and marketing in the US. As the acting CEO of Volvo Cars North America, Nicolosi is faced with the daunting task of increasing the carmaker’s US sales, which have dropped 7 percent this year while the vehicle market in the country is growing.
The carmaker’s slumping sales have been attributed to its aging product lineup as well as the expanded offerings of rival luxury brands from Europe, US and Asia. Alain Visser, Volvo Car Corp.'s senior vice president for marketing, sales and customer service, remarked to Automotive News that while Nicolosi could be called "a bean counter," he is a solid executive with strong dealer relationships.
“Tony has been with Volvo for 26 years, has a keen insight into the business operations and is a strong and enthused leader,” said Alain Visser, Senior Vice President Marketing, Sales and Customer Service at Volvo Car Group. “As our largest market globally, VCNA’s momentum and success in the U.S. is vital to a larger transformation taking place at Volvo.” [source: Volvo]