Volvo Shakes Up N. America Management Team

Volvo Cars North America is replacing its CEO and sales chief in its second management shakeup in less than two years, Automotive News reports.

John Maloney, who took over as CEO in 2011, opted to leave the company after declining a transfer to Europe. Greg Swetoha, who had been executive vice president of sales operations, also quit.

Volvo has named Tony Nicolosi, CEO of Volvo Car Financial Services U.S., to the additional position of interim CEO, effective immediately. He is in charge of U.S. operations only; Volvo's Canadian unit functions as a separate sales region.

Neither Volvo nor any of the three executives has commented on the management shuffle. But Alain Visser, the unit's top marketing, sales and customer service executive, tells AN the brand's primary goal will be to reverse its sales slide in the U.S. mainly with new models and a revamped advertising strategy.

U.S. demand for Volvo vehicles peaked at 139,100 units in 2004, according to AN. The brand's volume last year was 68,100 units. Sales through the first nine months of 2013 were down 7% from year-earlier levels.