Sunday, July 14, 2024

Has lost 100 million kroner – now he is leaving Polestar

As chairman of the board, Håkan Samuelsson has lost almost 100 million Danish kroner on Polestar's IPO. Now the 73-year-old man is retiring.

At some point it ends. Working life, that is.

And that is now the case for Håkan Samuelsson. It is Polestar itself that points out in a press release that the chairman of the board is leaving the post.

The 73-year-old Swede can look back on a time as chairman of the board of Polestar, which has cost him almost 100 million Danish kroner.

Samuelsson has been part of Polestar since 2017 and was therefore also involved when the car brand was listed on the stock exchange in New York and at one point was worth 21 billion dollars. Since then, the brand has lost 95 percent of its value.

READ ALSO: The car brand Fisker has gone bankrupt

Right now, the brand is hovering just above its all-time low. The loss in value means that Håkan Samuelsson stands to lose around DKK 100 million, while the brand's director Thomas Inglehart has to wave goodbye to more than DKK 37.4 million.

In the press release, however, Håkan Samuelsson says that he is 'incredibly proud' of what Polestar has achieved. He has previously been director of both Volvo Cars and the truck manufacturer MAN.

Håkan Samuelsson's replacement is Winfried Vahland, who previously headed Skoda and Volkswagen in China. Now Vahland must try to save the car brand from a delisting on the stock exchange.

A fate that i.a. has surpassed Fisker Inc., which this week threw in the towel with a bankruptcy filing. Read more about it here .

For the news of the reshuffle at Polestar, the brand's share value again fell sharply. Something that means that most of the leap forward that the car brand could note just a few days before is gone again.

Read more exciting news from and about the world of cars right here!

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