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Ford reaches agreement to sell Volvo to Geely for $1.8 billion

Ford has reached an agreement to sell its Swedish brand Volvo to Chinese carmaker Geely for about $1.8 billion in a multinational sale expected to close in the third quarter of this year. The pending agreement was announced onSunday morning, and Ford will continue to supply powertrains, stamping and other parts to Volvo after the sale. If it closes, the landmark deal delivers the premium Volvo brand--long a benchmark for automotive safety--to a Chinese firm that has ambitious plans for growth.

Chrysler Shakes Up Design Leadership

A recent shuffle of Chrysler Group's design team could be just what the company needs to effect a quick turnaround after bankruptcy, industry analysts say. The automaker has promoted three men from within to head design for its Chrysler, Dodge and Jeep brands. These freshly created positions - part of a broader restructuring effort - will report to Ralph Gilles, senior vice president of product design.

Ikuo Maeda to replace Laurens van den Acker as General Manager of Design at Mazda

Ikuo Maeda has been appointed General Manager of Mazda Motor Corporation's Design Division. He replaces Laurens van den Acker, who has decided to leave Mazda to pursue other interests. Following on from the successful tenure of van den Acker, Maeda will lead the Japanese automaker's global design team and be responsible for the overall design and styling of Mazda's global products.