Stephen Odell Appointed As President And CEO Of Volvo Car Corporation

DEARBORN, Mich. – Ford Motor Company today announced the appointment of Stephen Odell as president and chief executive officer of Volvo Car Corporation, replacing Fredrik Arp, who has decided to leave the company.

Effective Oct. 1, Odell, 53, will be responsible for Volvo’s global operations out of its headquarters in Gothenburg, Sweden, and lead the company’s drive toward sustained profitability through continued restructuring and the accelerated development of high-quality, fuel-efficient and safe vehicles in the premium end of the market.

Odell, who has played a key role in Ford of Europe’s resurgence as its chief operating officer, will report to Lewis Booth, executive vice president of Ford Motor Company and chairman of Volvo Car Corporation, who will continue to oversee the strategic direction of Volvo.

“Stephen Odell brings to Volvo a wealth of experience of strong leadership in the automotive industry," said Alan Mulally, president and CEO, Ford Motor Company. “Given his strong track record at Ford, Jaguar and Mazda, the time is now right for Stephen to take up this new challenge at Volvo. I believe that Stephen is the right person – together with Lewis Booth and the Volvo Cars Management Team – to take Volvo forward and to return the business to sustainable profitability.”

Booth thanked Fredrik Arp for his leadership of Volvo over the past three years, a period in which Volvo reduced costs and strengthened its product lineup despite a difficult business environment and challenges presented by adverse currency exchange rates and other external factors.

Stephen Odell