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Chief finance officer at Geely's Volvo Cars steps down

From Reuters| June 25 , 2013 12:32 BJT

Reuters (Stockholm) - Swedish car group Volvo Cars said on Thursday that chief financial officer Jan Gurander is stepping down and will be replaced by his current deputy, Hans Oscarsson.

The company, owned by China's Zhejiang Geely Holding Group Co Ltd, gave no explanation for Gurander's decision to leave the post, which he has held since 2011.

The company has been forced to cut costs due to slowing sales and has had troubles building up volumes in China, where it wants significantly to boost its market presence.

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