Stefan Jacoby's tenure as CEO of the Volvo Car Group has ended after only a little over two years with the Swedish carmaker announcing that he is being replaced by Håkan Samuelsson, currently Board member and former chief of MAN trucking, effective immediately.

Even though Jacoby did suffer a mild stroke last month, the vice chairman of Volvo Car Group, Hans-Olov Olsson told reporters that that his health was not the reason why Volvo's board members decided to replace him.

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