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Stephen Odell Appointed As
President And CEO Of Volvo Car Corporation
DEARBORN, Mich. – Ford Motor
Company today announced the appointment of Stephen Odell as
president and chief executive officer of Volvo Car Corporation,
replacing Fredrik Arp, who has decided to leave the company.
Effective Oct. 1, Odell, 53, will
be responsible for Volvo’s global operations out of its
headquarters in Gothenburg, Sweden, and lead the company’s drive
toward sustained profitability through continued restructuring
and the accelerated development of high-quality, fuel-efficient
and safe vehicles in the premium end of the market.
Odell, who has played a key role
in Ford of Europe’s resurgence as its chief operating officer,
will report to Lewis Booth, executive vice president of Ford
Motor Company and chairman of Volvo Car Corporation, who will
continue to oversee the strategic direction of Volvo.
“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
Booth thanked Fredrik Arp for his
leadership of Volvo over the past three years, a period in which
Volvo reduced costs and strengthened its product lineup despite
a difficult business environment and challenges presented by
adverse currency exchange rates and other external factors.
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. “The very attributes that make Volvo
distinctively Swedish – its heritage of safety, environmental concern
and its Scandinavian design -- appeal to customers around the globe. Our
strategy is to enhance the premium nature of Volvo by further
strengthening these attributes. Volvo really is the auto brand for
“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
Before he was appointed chief operating
officer of Ford of Europe in April 2008 responsible for product
development, manufacturing, purchasing, and marketing, sales and service
operations, Odell served as Ford of Europe’s vice president of
marketing, sales and service for nearly three years.
Prior to that, he held several senior
level positions at Mazda Motor Corporation from 2000 to 2005. From 1997
to 2000, Odell was vice president, marketing and sales, Jaguar North
America. Stephen Odell joined Ford of Britain in 1980 as a graduate
trainee. A native of London, he is married with two children.
(Sept. 2, 2008)