Vic Doolan, president and CEO of Volvo Cars of North America.
"It's been a great run and I'll miss it," Doolan told AdAge.com when confirming the news, which is expected to be revealed internally later this week.
His successor is not known.
Adage.com is the Web site for Advertising Age, a sister publication to Automotive News.
Most profitable unit
Doolan is leaving on a high note. During his leadership, Volvo has grown to be the most profitable and successful sales unit of Ford's Premier Automotive Group, or PAG. In the U.S., the biggest market for the Swedish auto brand, Volvo has been enjoying ongoing consecutive monthly vehicle sales records.
Doolan joined Ford in July 1999 as executive director of PAG in North America for marketing and distribution strategy. At the time PAG was made up of Volvo, Lincoln, Jaguar, Aston Martin and Land Rover. He started as interim Volvo president in late 2001; he was named to his current post in June 2002.
Former BMW president
Before joining Ford, the South African native spent seven years as president of BMW of North America, responsible for the U.S. market. His automotive career also includes stints as president of BMW of Canada and vice president of BMW of South Africa. The graduate of the U.K.'s Watford College also has international experience in banking.
When asked about his retirement plans, he said, "I live in paradise, I may as well enjoy it." He also plans to perfect his golf game and his Spanish and "hopes to keep my hand in automotive issues."