Sunday 14 April 2024

Boardroom battle hurts Volvo

, October 2, 2012

President and CEO of Volvo Car Corporation Stefan Jacoby presents the Universe concept car during the opening day of the Shanghai Auto Show in this file photograph. A boardroom-level conflict at Sweden-based luxury auto firm Volvo Car Corp is infecting some day-to-day decisions and threatens to hamper its Chinese owner's efforts to turn the business around, sources close to the company said. Jacoby and vice chairman Hans-Olov Olsson are locked in an often personal in-fight that began to develop after China's Zhejiang Geely Holding Group Co bought the Swedish brand from Ford Motor Co two years ago, the sources said. Reuters/Carlos Barria/Files 

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