The American Ford Motor consortium has appointed Stephen Odell new CEO of its subsidiary Swedish Volvo Car Corporation, replacing Fredrik Arp, who has decided to abandon the enterprise, announced today the company said in a statement.
Odell, 53 years old, will assume the next October 1 responsibility for the operations of Volvo worldwide and will be responsible for leading the company toward profitability by continuing restructuring and improving the quality and in developing vehicles with more environmentally friendly and safe in the segment of luxury cars.
Stephen Odell, who has worked as CEO of Ford Motor Europe, will report to his new position of executive vice president of Ford and Volvo Car Corporation, Lewis Booth, who will oversee the strategic direction of the company.
The Ford Motor CEO Alan Mulally, Odell explained that "gives Volvo a wide experience of strong leadership in the automotive industry." "I think Stephen is the right person, along with Lewis Booth and the management team of Volvo Cars, to advance to Volvo and to return the business to sustainable profitability," he added.
Odell, before his appointment, noted that the Swedish firm "is one of the iconic brands in the automotive" and explained that the strategy Volvo will focus on reinforcing the premium the company. "We are planning a restructuring plan that will help achieve a more competitive business and that Volvo will continue to build its key aspects," he added.
Moreover, since the signing of oval Fredrik Arp thanked the work done during the past three years, a period in which the company has reduced costs and has expanded its product line "despite the difficult economic environment".
