Volvo Denies Its CEO Is Heading to Opel

Volvo Car Corp. rebuts a news report that its CEO, Stefan Jacoby, plans to leave the company to head General Motors Co.'s troubled Opel unit, according to Automotive News Europe.

Swedish business daily Dagens Industri says Jacoby is the leading candidate for the Opel job. CEO Karl Stracke was ousted last month.

Volvo tells ANE that Jacoby is "fully occupied" with his current job and has no plans to step down. Jacoby joined the Swedish carmaker in August 2010 from Volkswagen AG, where he was president and CEO of its American unit.