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Saab Loses A CEO, But Gains A New Investor

Struggling Swedish carmaker Saab announced the surprise retirement of long-serving CEO Jan Ake Jonsson, one day after news from Vilnius that Russian banker and entrepreneur Vladimir Antonov might stump up new investment of €15 million.

Saab chairman Victor Muller said he will take on a Jonsson’s duties until a replacement can be found.

Antonov was part of the deal when Muller’s company Spyker bought Saab from GM, but had to withdraw after allegations of money laundering. The €15 million would be the equivalent of a 29.9 per cent stake in Saab.

Saab has forecast sales of 80,000 this year and 120,000 in 2012, after selling just under 32,000 in 2010. But Antonov said Saab was likely to sell only between 60,000 and 65,000 this year.

Neil Winton – March 27, 2011  

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