Ford names new head for Volvo
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[09/02/2008] Ford Motor Company has announced the appointment of Stephen Odell as president and chief executive of Volvo Car Corporation effective October 1.
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Ford Motor Company has announced the appointment of Stephen Odell as president and chief executive of Volvo Car Corporation effective October 1.
“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.”
Odell will report to Lewis Booth who is executive vice president of Ford Motor Company and chairman of Volvo Car Corporation.
Booth will also continue to oversee the strategic direction of Volvo, but Odell said he is excited to lead Volvo at an important time in the company’s history.
“Volvo is one of the great iconic automotive brands,” Odell said.
“We have a restructuring plan in place that will help to deliver a more competitive business and that enables Volvo to continue to build upon its core strengths.
"Volvo will adopt a more stand-alone approach within Ford Motor Company, while still leveraging product development and purchasing synergies with other Ford operations.”
Odell, who was appointed to the position of Ford of Europe's chief operating officer in April this year, succeeds Frederik Arp.
Arp was at the helm of Volvo for three years and in that period the manufacturer reduced costs and strengthened its line-up despite a "difficult business environment".
He has decided to leave the company.
“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.”
Odell will report to Lewis Booth who is executive vice president of Ford Motor Company and chairman of Volvo Car Corporation.
Booth will also continue to oversee the strategic direction of Volvo, but Odell said he is excited to lead Volvo at an important time in the company’s history.
“Volvo is one of the great iconic automotive brands,” Odell said.
“We have a restructuring plan in place that will help to deliver a more competitive business and that enables Volvo to continue to build upon its core strengths.
"Volvo will adopt a more stand-alone approach within Ford Motor Company, while still leveraging product development and purchasing synergies with other Ford operations.”
Odell, who was appointed to the position of Ford of Europe's chief operating officer in April this year, succeeds Frederik Arp.
Arp was at the helm of Volvo for three years and in that period the manufacturer reduced costs and strengthened its line-up despite a "difficult business environment".
He has decided to leave the company.
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