Stefan Jacoby’s exit from Volvo due to clash with Geely’s Li Shufu

Article by Anita Panait, on October 23, 2012

Stefan Jacoby’s recent departure as the chief executive of Volvo Car Corp. was a controversial one. Although Jacoby suffered from stroke in September 2012, it was not cited as the reason for his eventual exit. One of those reasons could be the clash of philosophies over the carmaker’s long-term direction between Jacoby and the chairman-founder of Volvo’s parent, Li Shufu of Zhejiang Geely Holding Group.

Shortly after Geely acquired Volvo from Ford Motor Co. in 2010, Li suggested that Volvo should produce upscale luxury sedans that would rival luxury vehicles produced by BMW, Mercedes and Audi. Jacoby, however objected as he and Volvo's European managers would rather focus on smaller vehicles to enhance the carmaker’s "green" image.

However, during the 2010 Los Angeles Auto Show, Jacoby acknowledged that China's executives had a strong preference for long luxury sedans.

He remarked back then that if the company wants to be successful, it has to listen to customers, adding that Volvo and Geely were having "fruitful discussions." But discussions bore no fruit as during the 2011 Shanghai auto show, Jacoby told reporters that proposals for an upscale Volvo luxury car were terminated.

Five months later, Freeman Shen, a Geely executive who currently manages Volvo's China operations, emphasized that one of Volvo's top five long-term goals was to become a top-tier luxury brand. The owner, after all, prevailed over the manager. Volvo has appointed Hakan Samuelsson as its new chief executive, replacing Jacoby.

Topics: geely

If you liked the article, share on:

Comments

Recommended

McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 2017
Hyundai has recently unveiled an unnamed pre-production model of its new fuel cell SUV. We don’t know what to call this model just yet, but sources say that this model...
by - August 18, 2017
This weekend at the 2017 Pebble Beach Concours d’Elegance, the BMW Z4 Concept will make its first public appearance. The good news is that we will finally have a real...
by - August 18, 2017
While Honda’s new 2018 HR-V will be rolling out at the dealerships with just a few updates, the company is certainly not giving up its spot as the best-selling vehicle...
by - August 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries