The Volkswagen Group has a new CEO. The former Matthias Mueller will be replaced by Herbert Diess. Along with announcing the new CEO, Volkswagen Group also announced a major restricting of its brands. According to the report, the Germans will divide them up into six new business areas. 

Also, the brands that are into the VW Group umbrella will be put into three groups: Volume, Premium and Super Premium. One business area will be dedicated to Chine and another one will be dedicated to the Truck & Bus division. 

Volkswagen Group will also focus on Research and Development, Sales, and Production. 

“The Volkswagen Group’s goal is and remains to align the company and its brands with future needs, to safeguard its position among the leaders of the international automotive industry with innovativeness and profitability and to be instrumental in shaping tomorrow’s personal mobility with the strength of our Group brands”, said Chairman of the Supervisory Board Hans Dieter Pötsch in the statement announcing the changes.

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“Herbert Diess is the right manager to do that. In realigning the Volkswagen brand, he has demonstrated to impressive effect the speed and rigor with which he can implement radical transformation processes. This accomplishment makes him predestined to fully implement our Strategy 2025 in the decisive years that are now to follow”, added Hans Dieter Pötsch.