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Volvocar’s CFO quietly resigns

Thursday, 20 June 2013
Swedish Chinese owned automaker, Volvo Cars corporation said on Thursday that its chief financial officer, Jan Gurander is stepping down and will be replaced by his current deputy, Hans Oscarsson.

According to media reports, the company, owned by China’s Zhejiang Geely Holding Group Co Ltd, gave no explanation for Gurander’s decision to leave the post, which he has held since 2011.

The company has been forced to cut costs due to slowing sales and has had troubles building up volumes in China, where it wants significantly to boost its market presence, reports Reuters

There should be no confusion between Volvo Cars Corporation and Volvo AB. The later is the heavy-duty vehicle manufacturer and is not Chinese owned. The former is the passenger carmaker and is Chinese owned.

By Scancomark.com Team