Headline from Der Spiegel
If they’re not cutting it because of emerging markets, they can cut it because of Volkswagen.
Volkswagen’s changes: key points
Volkswagen has named Matthias Müller as its new chief executive in the wake of an emissions rigging scandal that has wiped billions of euros from the company’s value.
Alongside putting a new executive at the helm, VW announced a series of changes late on Friday. fastFT has summarised them:
North America
Winfried Vahland, previously chairman of rival Skoda, will become head of a reorganised North American division that includes Mexico and Canada.
Michael Horn will stay as head of Volkswagen in the US – something that the company’s network of US dealers had called for.
Revamp reporting structure
VW also said “a management structure with four regions, each led by a local CEO with a direct reporting line to the brand Chairman, Herbert Diess.”
Changes on the board
VW said Christian Klinger, head of sales and marketing at VW, will leave. The departure is “part of long-term planned structural changes and as a result of differences with regard to business strategy. This is not related to recent events,” the company said.
His seat on VW’s brand board of management will be taken by Jürgen Stackmann, previously head of the Seat brand.
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