OREANDA-NEWS. Volvo Cars, the premium car maker, has appointed M?rten Levenstam to the position of senior vice president product strategy and business ownership. 

Mr Levenstam’s appointment coincides with the merging of the product strategy team and the vehicle line management team. He will in his new role join the executive management team and oversee the product creation operations. 

“M?rten brings a wealth of experience, strategic clarity and a healthy dose of creativity and I am very happy to welcome him as a new member of the executive management team,” says H?kan Samuelsson, president and chief executive. 

Mr Levenstam said: “The product strategy and business ownership unit entails a new way of working that will help us make the right strategic decisions. I very much look forward to continuing our transformation with the product strategy and business ownership team." 

Paul Welander, currently senior vice president vehicle line management, will take up a new position as Senior Advisor, reporting to chief executive H?kan Samuelsson. 

“Volvo Cars has the fortunate position of being an attractive partner in a number of areas, to other companies and to branches of local government. In his new role, Paul will secure that we enter into the right partnerships in our Swedish key regions,” says H?kan Samuelsson. 

Mr Welander said: “With all opportunities Volvo has for partnerships, there is a need to prioritise and carefully choose with whom to work. I am thrilled to take on this new responsibility.” 

The changes are effective as of January 1, 2018.

Volvo Car Group in 2016

For the 2016 financial year, Volvo Car Group recorded an operating profit of 11,014 MSEK (6,620 MSEK in 2015). Revenue over the period amounted to 180,672 MSEK (164,043 MSEK). For the full year 2016, global sales reached a record 534,332 cars, an increase of 6.2 per cent versus 2015. The record sales and operating profit cleared the way for Volvo Car Group to continue investing in its global transformation plan. 

About Volvo Car Group

Volvo has been in operation since 1927. Today, Volvo Cars is one of the most well-known and respected car brands in the world with sales of 534,332 cars in 2016 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding (Geely Holding) of China since 2010. It formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company of the US. In 2010, Volvo Cars was acquired by Geely Holding.