ROCKLEIGH, N.J. — Volvo Cars North America announced that John Maloney was appointed to the position of company president, effective immediately. He brings close to 30 years of automotive experience, and most recently served as vice president of marketing and product planning for the company.

"The U.S. market is vital for the ambitious growth targets we have set for the company. Therefore, I am very happy that John has accepted to lead our U.S. business," said Stefan Jacoby, president and CEO of Volvo Car Corporation.

Previously serving at Ford Motor Company, Maloney joined Volvo Cars of North America in 2000 and became vice president of marketing communications in 2002. In 2008, product planning was added to his responsibilities.

Maloney has been acting president of Volvo Cars of North America since May. He replaces Doug Speck, who was appointed senior vice president of marketing, sales and customer service at Volvo Car Corporation.

"The future for Volvo in the U.S. is very bright and I'm honored to lead the brand during this very exciting time. My priority is to build upon the 2011 success and remain focused on delivering sustainable growth driven though our core volume products — the Volvo S60, XC60 and XC90," Maloney said.