Volvo hires VW's US head, Jacoby

Swedish car maker Volvo, a fully owned subsidiary of US based Ford Motors, has appointed Mr Stefan Jacoby as its chief executive, reported a German news daily. Mr Jacoby who was the head of Volkswagen's business in the North-American market,  will replace Briton Stephen Odell in August, the report further added.

While the German auto giant stated that Jacoby has been replaced by the company as its US operations head on an interim basis until the company clarifies his contractual situation. Statement adds that the company is holding contract talks with Stefan Jacoby.

We should mention here that Volvo, which has been operating as Ford's brand for more than a decade, is currently being sold to China's Zhejiang Geely. The VW group further elaborated that the talks with Jacoby have by no means concluded yet and on an interim basis, Michael Lohscheller would take Jacoby's responsibilities on an intern basis, for VW Group of America.

Mr Stefan Jacoby, who was hired by the company in the year 2007, has been credited for establishing VW's brand under the punchline Das Auto. He has also been responsible for improving profitability for the company's 600 dealers across the US market.