After experiencing a mild stroke last week, Stefan Jacoby (the CEO of Volvo Cars) will be on sick leave for the next month, according to a statement from the company. Jacoby, who is 54 years old, heads Volvo, which is currently owned by Zhejiang Geely. He has been placed under medical supervision and has begun the recovery process.
In the statement, Jacoby said, “I was lucky that it was a mild stroke." He shared that his right arm and leg can move but only on a limited range. He said that his condition has improved and that he will concentrate on resting and exercising so that he can return to work as soon as possible. Most of Jacoby’s professional career was at Volkswagen.
He served as the head of Volvo Cars since 2010. In Jacoby’s absence, Jan Gurander, the company's chief financial officer, will take on the responsibilities in the meantime. He is tasked to run the retail operation in China, where annual sales are not expected to attain its 2015 goal.
Volvo cars are presently being imported to China from plants overseas, but the company is looking to establish production in the country in the coming years. Volvo is expecting to sell 200,000 cars annually in China in 2015 as part of a worldwide sales target of 800,000. It sold almost 450,000 cars around the world in 2011.