Saab CEO to retire

Saab CEO Jan Åke Jonsson is set to retire following an annual general shareholders meeting in May.

Jonsson has spent the last six year as the head of Saab Automobile, guiding the iconic Swedish brand through its sale to Spyker NV and the restarting of the company’s production and retail operations.

A search for a successor has been initiated. In the meantime, Victor Muller of Spyker will temporarily assume the role of president and CEO of Saab in addition to his role as chairman of the board.

“I have been with Saab Automobile for almost my entire career of 40 years, of which almost six years as the head of Saab Automobile,” Jonsson said in a release on the automaker’s website.

“The last three years have of course been very demanding and forced me to focus on one thing only – my work. Now it is time for me to also spend some time on other things that had to stand back for my duties to Saab Automobile.”

He goes on to say he is “convinced” Saab is on the right track, noting the replacement of the entire product portfolio by October 2012.

Muller says Jonsson has had one of the toughest jobs in Sweden in recent years, giving him credit for leading the effort to create a platform from which Saab could become a “strong and independent Swedish car manufacturer.”

Jonsson will assume an advisory role until this September to help transition leadership with his replacement.