Volvo announced today that it has named Tony Nicolosi, president and CEO of Volvo Car Financial Services VCFS), as the new CEO of Volvo Cars of North America (VCNA). Nicolosi replaces John Maloney, who chose to leave due to family obligations after Volvo offered him a position in Europe.
Volvo says Nicolosi will remain president and CEO of VCFS while he assumes VCNA's top position. The Swedish automaker also says a "permanent successor [to Maloney] as President and CEO will be the subject of a later announcement."
The move comes as part of a management shakeup that's part of a "larger transformation taking place at Volvo," the automaker says.
Volvo's sales in the US have slumped seven percent this year, Automotive News reports, despite an expanding market following the 2008-09 recession. It's ultimately up to Nicolosi to implement a plan to boost sales here. Alain Visser, Volvo's senior vice president for marketing, sales and customer service, reportedly says Nicolosi, as CEO of VCNA, will be a dealership contact crucial to running the US business.
Volvo also announced today that Greg Swetoha, VCNA's executive vice president of sales operations, chose to leave the company as well.
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