OREANDA-NEWS. Volvo Cars has announced the appointment of Nick Connor as the new chief executive of its 100 per cent-owned performance arm, Polestar, effective July 1st. 

Mr Connor moves to Polestar after four years as managing director of Volvo Cars UK, during which sales volumes increased by 60 per cent. He will replace Bj?rn Sllstrm who has been acting CEO since Volvo’s acquisition of Polestar in July 2015. 

Mr Connor will be responsible for the growth and development of the Polestar brand. 

“Nick brings extensive commercial experience and a proven track record of sales and network development to Polestar as we seek to develop and grow this exciting part of our business,” said H?kan Samuelsson, president and chief executive of Volvo Cars.

Volvo Car Group in 2015

For the 2015 financial year, Volvo Car Group recorded an operating profit of 6,620 MSEK (2,128 MSEK in 2014). Revenue over the period amounted to 164,043 MSEK (137,590 MSEK). For the full year 2015, global sales reached a record 503,127 cars, an increase of 8 per cent versus 2014. 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 503,127 in 2015 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. 

As of December 2015, Volvo Cars had almost 29,000 employees worldwide. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for China is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), Chengdu and Daqing (China), while engines are manufactured in Sk?vde (Sweden) and Zhangjiakou (China) and body components in Olofstroem (Sweden).