(Reuters) -Volvo Cars has appointed Hakan Samuelsson as its new chief executive, effective April 1, 2025, it said on Sunday.

Samuelsson had previously served as the company's CEO for about a decade from 2012 to 2022. He will succeed Jim Rowan, who will step down on March 31.

Last month, Volvo Cars warned that 2025 would be a tumultuous and competitive year during which it might struggle to match its 2024 sales performance and profitability.