Hans-Olov Olsson has stepped down from the board of directors at Karolinska Development, the commercialisation and investment arm of Karolinska Institute.

Olsson, a former chief executive of automobile brand Volvo Cars, had been appointed to the board in April 2017. He resigned of his own volition.

His career also includes stints as chairman of Chalmers University of Technology and as vice-chairman of the trade body Confederation of Swedish Enterprise.

He is likely to be replaced by Ewa Björling, who has…