Volvo Cars has announced leadership and organizational changes. Björn Annwall has been named chief commercial officer and deputy CEO, succeeding Lex Kerssemakers, who plans to retire after 38 years with the company.

In other changes, Javier Varela, responsible for R&D, manufacturing, procurement, supply chain and quality, now serves chief operating officer and deputy CEO. Henrik Green, formerly head of product creation, leads a new unit called Advanced Technology and Sustainability, and Johan Ekdahl, currently head of global accounting and group reporting, has been appointed interim CFO.

In addition, two deputy CEO roles are being introduced to reflect the importance of two key areas of the automaker’s business and their contribution to the company’s growth now and into the future.

Most recently Volvo CFO, Björn Annwall has been a member of the executive management team at Volvo Cars since joining the company in 2015. He directed the Europe, Middle East and Africa region since 2019, as Volvo Cars increased its market share in the region thanks to strong plug-in hybrid and pure electric sales, according to Volvo.

Annwell joined Volvo Cars from McKinsey & Co, the global management consultancy firm, where he worked closely with Volvo Cars for five years and implemented a global transformation program following the acquisition of the company in 2010 by Zhejiang Geely Holding.

Kerssemakers will remain at Volvo Cars during this transitionary period in an advisory capacity, reporting directly to the CEO and focused on executive level projects.