Report: Volvo may take Saab boss as its new CEO

Jan Ake Jonsson, CEO of Saab Automobile

Saab CEO Jan Ake Jonsson, is a top candidate for the head position at Volvo Cars, according to a Swedish newspaper report. He has been named as part of a “╦ťhandful” of candidates, and contact has already been made with him according to one source.

With Volvo”s current CEO, Stephen Odell, planning to leave the company to head Ford Europe, the goal here is to have a new CEO ready to go when the final deal transferring ownership to Geely Automotive is signed in June.

Should he accept, Jonsson will really feel the pressure; Volvo has been hemorrhaging money since 2005, and Yang Giang, President of Geely has said that he will not tolerate red ink from Volvo for even one year.

– By: Stephen Calogera

Source: Automotive News (Subscription Required)