Volvo introduces Jacoby as new CEO

Stefan Jacoby, former chief executive of Volkswagen Group of America, is now president and CEO of Volvo Cars, following the complete acquisition of the Swedish car manufacturer by Chinese Zhejiang Geely from Ford Motor Company. Under the new ownership, Volvo Cars will retain its headquarters and manufacturing presence in Sweden and Belgium; and its management will have the autonomy to execute on its business plan under the strategic direction of the board.