The Chinese owned Volvo Car Group last October dismissed Jacoby, left, who was the CEO since 2010. Lee is a GM lifer.
Tim Lee is the new Chairman of GM China with responsibility for 12 joint ventures, two wholly owned foreign enterprises and more than 55,000 employees. Previously Lee has spent nearly four years in charge of GM’s International Operations. He will also continue in his role as Executive Vice President Global Manufacturing. Bob Socia, president of GM China, will continue to report to Lee. China where GM leads all automakers in sales is now GM’ largest market by far.
Stefan Jacoby, most recently the ousted CEO of Volvo Cars, will become Executive Vice President Consolidated International Operations, leading the company’s operations in more than 100 countries and territories in Africa, Asia Pacific, Europe and the Middle East. He will report to GM’s CEO, Dan Akerson.
In addition to running Volvo Cars, Jacoby’s nearly 30-year career includes positions at Mitsubishi and several jobs at Volkswagen. (Stefan Jacoby Out at Volvo Car. Håkan Samuelsson new CEO)
The Chinese owned Volvo Car Group last October dismissed Jacoby, who was the CEO since 2010. Jacoby had been on medical leave following a stroke in September when the dismissal from the board occurred. The parting was called “amicable” by Geely-owned Volvo, although Jacoby was not made available for interviews.
In April of 2011, Volvo and the China Development Bank Corporation signed a Memorandum of Understanding for a “strategic partnership.” A growth plan for the Chinese market is vital to achieving Volvo’s 2020 global sales target of 800,000. (Volvo signs MoU with China Development Bank. Plant Next?)
“Stefan is a great addition to an already strong team,” said Akerson. “We expect him to continue building on his record of delivering results in markets around the world.”
