Chinese automotive giant Geely Holding has named Danish executive Lone Fonss Schroder as chair of the board at Geely Sweden Holding, its primary European investment arm, replacing company founder and top shareholder Eric Li, the group announced on Thursday.
Schroder, a longtime board member at Geely Sweden Holding, will now lead the board that oversees several of Geely’s European operations, including Volvo Cars, Lotus, and Polestar. Li, also known as Li Shufu, will remain on the board and continues to serve as chair of Volvo Cars.
“Her appointment as chair of the board is a natural progression, enabling her to further collaborate closely with Geely Sweden’s management team, particularly as the group’s regionalisation grows in importance,” a Geely Sweden spokesperson told Reuters. Schroder has served on the board for six years and has played a key role in guiding the group’s strategy in Europe.
The leadership change comes as Geely intensifies efforts to streamline operations and reduce internal competition across its global portfolio. That strategy has already resulted in brand restructuring, team mergers, and board reshuffles across Zeekr, Lynk & Co, and Volvo-linked companies. Last year, Li called for improved synergy and strategic alignment across Geely’s sprawling automotive empire.
As part of the shift, Schroder will step down from her role on the Volvo Cars board, where she has served since 2010, and will instead join the company’s nomination committee overseeing board appointments.
Polestar, which is majority-owned by Geely via its Swedish holding and private stakes, is also undergoing governance changes. Two Geely board members are set to be replaced at Polestar’s June 30 shareholder meeting, as the loss-making EV brand faces pressure to improve performance amid shifting global market dynamics.
Earlier this year, former Volvo Cars CEO Hakan Samuelsson was reappointed to lead the company, as it navigates rising tariff challenges and broader market uncertainty.