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Volvo CEO Takes Leave After Stroke

Mon, 09/24/2012 - 9:37am

NEW YORK (AP) -- The president and CEO of Volvo Car Corp. has suspended his duties within the company for the next month due to a stroke, the company said Sunday. Chief Financial Officer Jan Gurander will serve as acting CEO during the absence.

Volvo said CEO Stefan Jacoby suffered a mild stroke last week and is starting the recovery process.

"I was lucky that it was a mild stroke," Jacoby said in a news release. "I am currently experiencing limited movement abilities in my right arm and, to some extent, also in my right leg. I have started to recuperate and already notice certain improvements. Now I will focus on resting and exercising, in order to get back to work as soon as possible. I am however in ongoing contact with the Volvo Car Corporation executive management team and the board of directors."

Jacoby, who was born in 1958, has been CEO of the carmaker since August 2010. Prior to that, he was president and CEO of Volkswagen Group of America Inc.

The iconic Swedish car brand was bought in 2010 by the Chinese carmaker Zhejiang Geely Holding Group for $1.8 billion from Ford Motor Co.

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