"I was lucky that it was a mild stroke," Jacoby said in a statement.
Swedish news agency Tidningarnas Telegrambyra reported Monday that Volvo appointed Jan Gurander to act as CEO while Jacoby recuperated.
Doctors said Jacoby could return to work in about a month, company spokesman Per-Ake Froberg said.
Froberg said the stroke has "limited his ability to move, which we believe he'll be able to recover fairly quickly through exercise."
"Now I will focus on resting and exercising in order to get back to work as soon as possible,"Jacoby's statement said,
Jacoby became CEO of Volvo when it was purchased by Chinese automaker Geely in August 2010.
Tesla could face sales ban in Michigan
Twitpic to shut down after failed acquisition