Volvo Replaces Stefan Jacoby, Chief Executive, With Former Chief of MAN Trucking On Friday, Volvo Car Group announced that Stefan Jacoby, its president and chief executive since 2010, would be replaced immediately by Hakan Samuelsson, the former chief of MAN Group, the Munich-based trucking conglomerate. Mr. Samuelsson, a 35-year veteran of the automotive industry, has served as an independent member of Volvo's board of directors since 2010. In a news release, Li Shufu, chairman of Volvo Car Group, indicated the move was made in part to accelerate the brand's growth in China. I see major opportunities for Volvo Cars to improve profitability and accelerate our growth plan in China specifically. I am convinced that Hakan Samuelsson's thorough experience and leadership will help us increase performance," he said. Mr. Jacoby left his position as president and chief executive of Volkswagen of America to join Volvo in August 2010, after the Swedish automaker's acquisition by Zhejiang Geely Holding of China. The move was largely unexpected, occurring during VW's construction of a manufacturing plant in Chattanooga, Tenn., said to cost $1 billion. Jonathan Browning was appointed president and chief executive of VW of America in September 2010. Buoyed by investment from Geely, Mr. Jacoby presided over a period of relative stability for Volvo. The brand provided a ready contrast with Saab, its Swedish contemporary, which struggled through a series of failed financing rounds before its parent filed for bankruptcy protection last December. Mr. Jacoby, 54, experienced a mild stroke last month. Jan Gurander, the chief financial officer of Volvo Cars, assumed Mr. Jacoby's responsibilities during his sick leave. Citing the vice chairman of Volvo Car Group, Automotive News reported on Friday that Mr. Jacoby's health was not a factor in the board's decision to appoint Mr. Samuelsson chief executive of the car division. Since its acquisition by Geely, Volvo has aspired to become the dominant luxury player in China, a position held by Audi. It has scheduled global premieres of concept cars like the Concept Universe, later shown in Frankfurt as the Concept You, to take place at Chinese automotive salons and has pursued joint partnerships with domestic manufacturers. In April, Volvo Cars announced an $11 billion initiative to double its worldwide sales to 800,000 units in the next 10 years and quadruple sales in China, from 47,000 to 200,000 units, by 2014. Mr. Jacoby was widely regarded as the architect of that expansion plan.