FRANKFURT — Volkswagen Group named Ralf Brandstaetter as VW brand CEO, promoting him from his current role as the brand’s COO.
The change — effective July 1 — means that VW Group CEO Herbert Diess gives up his role as VW brand CEO. The change will give Diess greater leeway for his tasks as group CEO, VW said in a statement on Monday.
In Brandstaetter, 51, VW’s supervisory board has picked a company veteran to head its core brand. Porsche CEO Oliver Blume was also a contender for the post.