Stefan Jacoby, 54, was placed under medical supervision and has already started the recovery process, the firm said.
“I was lucky that it was a mild stroke,” Jacoby said in the statement. “I am currently experiencing limited movement abilities in my right arm and, to some extent, also in my right leg. I have started to recuperate and already notice certain improvements.”
He said he would focus on resting and exercising with the hope of getting back to work as soon as possible.
Jacoby spent most of his professional career at Volkswagen and has served as head of Volvo Cars since 2010.
Jan Gurander, the company’s chief financial officer, is serving as acting CEO during Jacoby’s absence.