VW Names New CFO for U.S. Unit

Volkswagen AG has appointed Hardy Brennecke as executive vice president and chief financial officer of its American operations, effective Aug. 1. He will report to Volkswagen of America CEO Jonathan Browning.

Brennecke succeeds Michael Lohscheller, who is leaving to become CFO of General Motors Co.'s Opel unit on Sept. 1. Brennecke's new duties include financial oversight for the VW and Audi brands in the U.S. and financial strategy for the subsidiary.

Since joining VW in 2000, Brennecke has held a series of financial jobs. The company says most recently he has worked on "key group projects" at the company's headquarters in Wolfsburg, Germany, reporting to CFO Hans Dieter Poetsch.