Stephen Odell, the Chief Operating Officer of Ford of Europe will replace the Fredrick Arp as President and Chief Executive Officer of Volvo Car Corporation, said Ford Motor Co. Odell will take over the charge on October 1, who will report to Ford of Europe and Volvo Chairman Lewis Booth. Odell will be responsible for the global operations of Volvo, out of its headquarters in Gothenburg, Sweden.

“Stephen Odell brings to Volvo a wealth of experience of strong leadership in the automotive industry,” said Alan Mulally, President and CEO of Ford Motor Co. “Given his strong track record at Ford, Jaguar and Mazda, the time is now right for Stephen to take up this new challenge at Volvo. I believe that Stephen is the right person - together with Lewis Booth and the Volvo Cars Management Team - to take Volvo forward and to return the business to sustainable profitability,” Mulally added. 

Odell, 53, joined the Ford of Britain in 1980 as a graduate trainee. Before he was appointed as Chief Operating Officer of Ford of Europe in April, 2008, Odell served Ford of Europe’s Vice President of marketing, sales and service for nearly three years. Prior to that, he served as Vice President of Marketing and Sales for Jaguar North American from 1997 to 2000 and  held several senior positions at Mazda from 2000 to 2005.

“Volvo is one of the great iconic automotive brands,” said Odell. “The very attributes that make Volvo distinctively Swedish - its heritage of safety, environmental concern and its Scandinavian design — appeal to customers around the globe. Our strategy is to enhance the premium nature of Volvo by further strengthening these attributes. Volvo really is the auto brand for today’s customers.”

Odell will continue a restructuring program that was started by Fredrick Arp, which will help the automaker to return to profitability. Arp, 55, decided to leave Volvo, after three years leading the brand. He became Volvo CEO on October 1, 2005.

In the second quarter of 2008, Volvo reported a pre-tax loss of $120 million, compared to a loss of $91 million during the same period in 2007.

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