It was reported last month that Volkswagen”s North American CEO Stefan Jacoby had been hired by China”s Zxhejiang Geely to head up its newly purchased Volvo brand. USAToday’s DriveOn blog confirmed the report today with Volkswagen and its seems Jacoby will be headed to Volvo after all.
“He is no longer with the company,” Volkswagen said.
While Jacoby may be bringing some strong experiences from Volkswagen, he’ll still face a tough challenge of making Volvo profitable. Volvo sales were down 29.1 percent in June when compared to the same period the year before. Industry sales were up 14.4 percent and Volkswagen sales were up 11.5 percent.
– By: Omar Rana