Volvo Ditches Deputy CEO in Leadership Efficiency Drive

Volvo Cars announces it is losing its deputy CEO supposedly to cut out some top-heavy senior management clutter and “increase simplicity, speed and collaboration.”

Björn Annwall, chief commercial officer and deputy CEO, will leave the company after supporting the transition of the new executive structure to be completed by Nov. 1.

In a statement, the company says the move is in response to the industry being “currently challenged by different headwinds driven by geopolitical and macroeconomic uncertainties that impact the entire industry, including market sentiment, rapid technology shifts and supply chains.”

CEO Jim Rowan says: “In a rapidly changing world, we need to ensure our organization is equipped to navigate a more challenging market. We are now regrouping our commercial leadership team with a focus on making Volvo Cars even stronger with increased speed and efficiency.”