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Volvo goes back to car industry basics with surprise CEO switch

Volvo has announced a significant leadership change by appointing Jim Rowan, previously the CEO of Volvo Cars, as the new CEO of Polestar, its electric vehicle (EV) brand. This move comes as part of Volvo's strategy to refocus on its core car manufacturing business amidst a challenging economic environment and a slowdown in EV demand. Rowan, who has experience in the tech industry, is expected to bring a fresh perspective to Polestar, which has been struggling with profitability and market share. The transition aims to streamline operations and enhance Volvo's competitive edge in the automotive industry by leveraging Rowan's expertise in technology and innovation. This CEO switch underscores Volvo's commitment to adapting to market changes and optimizing its business model to ensure long-term sustainability and growth.

Read the Full Reuters Article at:
[ https://www.msn.com/en-ca/money/topstories/volvo-goes-back-to-car-industry-basics-with-surprise-ceo-switch/ar-AA1C0MqW ]