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 been proposed for inclusion in the board. She is a qualified dentist, doctor and lecturer in virology who was Swedish Minister for Trade from 2007 until 2014 and Minister for Nordic Cooperation from 2010 to 2014.

Björling has worked in the institute’s Department of Microbiology, Tumour and Cell Biology, and has accrued boardroom experience from her roles at hygiene product manufacturer Essity, biotech developer Biogaia and mine surveillance platform Mobilaris.