New Delhi, Sept. 21 -- Volvo Cars AB's board has named Klaus Zellmer, 59, as the company's next president and chief executive officer (CEO), succeeding Håkan Samuelsson, who is scheduled to step down next year.

Zellmer, who most recently headed Volkswagen AG's Skoda Auto AS division as CEO, will take charge of Volvo Cars no later than October 1, 2027, the Swedish automaker said in a statement on Sunday.

Samuelsson and the Volvo board will work with Zellmer to ensure a "seamless" handover, the company said. Zellmer brings more than three decades of experience in the global automotive industry.

Volvo Cars Chairman Li Shufu said Zellmer has "a strong record of guiding organizations through transformation and changing market condition...