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Truckmaker AB Volvo Drops Geely-Linked Board Member After Daimler Move

reuters.com

STOCKHOLM (Reuters) - Truckmaker AB Volvo ( VOLVb.ST ) is dropping the head of Geely-owned ( 0175.HK ) Volvo Cars from its board because of competition concerns after the Chinese group took an almost 10 percent stake in rival Daimler ( DAIGn.DE ). Volvo Cars is a subsidiary of Zheijang Geely Holding Group Co whose main owner is Li Shufu. It was announced on Friday that Li, Geely’s founder, had built up an almost 10 percent stake in Daimler...

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