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The Nomination Committee’s Proposal for Election of Members to the Board of Directors of Volvo Car AB


The Nomination Committee of Volvo Car AB (publ) has decided to submit the following proposals for resolution at the Annual General Meeting of shareholders on April 3, 2023:

  • The Board of Directors shall comprise ten members without any deputy members.
  • Re-election as members of the Board of Directors: Eric Li (Li Shufu), Daniel (Donghui) Li, Lone Fönss Schröder, Winfried Vahland, Jonas Samuelson, Diarmuid O’Connell, Lila Tretikov, Jim Rowan and Anna Mossberg.
  • Eric Li is to be re-elected as Chairperson of the Board of Directors and Lone Fönss Schröder as Vice Chairperson.
  • Tom Johnstone, as previously informed, declines re-election.
  • The Nomination Committee proposes Ruby Lu be elected as a new member of the Board of Directors.

Ruby Lu is a venture capitalist investing in technology start-ups in the US and China. She founded Atypical Ventures 2019 – an early-stage technology investment firm. She is an independent board member of Unilever, Yum China and Uxin Limited. In 2006 Ruby Lu co-founded DCM China, a venture capital firm.

Before becoming a venture capitalist, Ruby Lu was a Vice President in Goldman Sachs’ technology media and telecommunication banking group in the US. Ruby Lu has extensive financial and global market experience, including board work in listed companies. She is well acquainted with the Chinese market and has vast experience with various tech companies.

If the Annual General Meeting approves the Nomination Committee’s proposal, 40 per cent of the board members will be women.

The Nomination Committee Consists of the Following:
  • Tom Johnstone, appointed by Geely Sweden Holdings AB 
  • Yimin Chen, appointed by Geely Sweden Holdings AB
  • Eric Li, Chairperson of the Board of Directors of Volvo Car AB
  • Anders Oscarsson, set by AMF
  • Ylva Wessén, set by Folksam

Tom Johnstone is the Chairperson of the Nomination Committee.

Information about the Nomination Committee’s statement and the complete proposal will be made available on the Volvo Car investor relations website on 28 February, 28023, when the notice to the Annual General Meeting is published,


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