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VW May Be Turned into 4 Holding Companies
Volkswagen Group plans to reorganize its 10 brands into four highly autonomous holding companies, sources tell Reuters and Handelsblatt.
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Volkswagen Group plans to reorganize its 10 brands into four highly autonomous holding companies, sources tell Reuters and Handelsblatt.
The reports say VW will create one company for its mass-market brands (SEAT, Skoda and VW), one for commercial trucks and two one headed by Audi and one headed by Porsche for premium brands.
The structure would reduce the power of the current management board. It also could eliminate as many as three management board positions, according to Bloomberg News. Among them is the top sales and marketing job currently held by board member Christian Klingler, who critics blame for the VW brand's weak sales performance in the U.S.
Analysts say the new structure should speed decision making on such matters as new models. Whether the move would meet the key objective of reducing operating costs is unclear.
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