The company said that the majority of the redundancies would go ahead as planned, although it will conduct a review of those services that are currently outsourced that could be brought back in-house.
"It is unlikely that this will substantially offset the number of jobs to be lost," said group human resources director Catherine Hearn.
Meanwhile, Young takes up his position with immediate effect.
Polestar chief executive Barry Hibbert said: "Mike knows this plant better than anyone. He has the respect of the customers, suppliers and employees."
Polestars HQ plan is ready
Polestar has completed employee negotiations over the closure of its Milton Keynes head office and has also confirmed the appointment of Mike Young as managing director of its Sheffield plant.
