Volkswagen Group to rearrange into four holding companies
Published On Jun 16, 2015 06:30 PM By Bala Subramaniam
Several reports have been surfacing on the internet that the Volkswagen Group will be regrouped into four holding companies, running three each of the 12 brands in the group. The decentralization system approach comes after the resignation of former VW Chairman Ferdinand Piech, who followed a centralized management structure. The new structure is expected to be more efficient and quick in decision making.
Under the new structure, brands Volkswagen, Skoda and Seat will form a holding company under the control of Herbert Diess, former BMW manager. Audi, Lamborghini and Ducati brands will form a holding company to be led by Rupert Stadler, Audi CEO. Porsche CEO, Matthias Mueller will run the company with brands Porsche, Bentley and Bugatti. The Volkswagen AG’s commercial brands - VW Commercial vehicles, Scania and MAN, will form a separate holding company under the management of Andreas Renschler, former Daimler trucks boss.
Though Volkswagen has been mum about these reports, several publications have confirmed the story. But do take the news with a pinch of salt. More updates coming up.
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