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NEW YORK (AP) — The president and CEO of Volvo Car Corp. is suspending his duties within the company over the next month due to a stroke, the company says. CFO Jan Gurander will serve as acting CEO during the absence.
Volvo says CEO Stefan Jacoby suffered a mild stroke last week and is starting the recovery process.
Jacoby, who was born in 1958, has been CEO of the carmaker since August 2010. Prior to that, he was president and CEO of Volkswagen Group of America Inc.
The iconic Swedish car brand was bought in 2010 by the Chinese carmaker Zhejiang Geely Holding Group for $1.8 billion from Ford Motor Co.