STOCKHOLM, Sept 23 The chief executive of
Zhejiang Geely-owned Volvo Cars suffered a mild
stroke last week and will take sick leave for the next month,
the company said in a statement on Sunday.
Stefan Jacoby, 54, was placed under medical supervision and
has already started the recovery process, the firm said.
"I was lucky that it was a mild stroke," Jacoby said in the
statement. "I am currently experiencing limited movement
abilities in my right arm and, to some extent, also in my right
leg. I have started to recuperate and already notice certain
He said he would focus on resting and exercising with the
hope of getting back to work as soon as possible.
Jacoby spent most of his professional career at Volkswagen
and has served as head of Volvo Cars since 2010. Jan Gurander,
the company's chief financial officer, is serving as acting CEO
during Jacoby's absence.
Jacoby said recently that Volvo was struggling to build up
its retail operation in China, where annual sales were unlikely
to meet a 2015 target.
Volvo cars are currently imported to China from factories
overseas, but the company is looking to set up production in the
country in the coming years.
Volvo is aiming to sell 200,000 cars a year in China in 2015
as part of a 2020 global sales target of 800,000. It sold almost
450,000 cars worldwide last year.
(Reporting by Mia Shanley)