April 12, 2018 / 11:48 AM / 6 months ago

VW's Diess to become head of volume brand division: sources

FRANKFURT/BERLIN (Reuters) - Volkswagen (VOWG_p.DE) brand chief Herbert Diess will head up a volume brands division which includes responsibility for Skoda and Seat, two sources familiar with the matter said on Thursday.

Volkswagen CEO Dr. Herbert Diess watches a video during the Nvidia keynote address at CES in Las Vegas, Nevada, U.S. January 7, 2018. REUTERS/Rick Wilking

The newly-created volume brand group will also include VW’s commercial-vehicle division, one of the sources said.

“Diess will get immense power,” he said.

Volkswagen’s board member for procurement Francisco Javier Garcia Sanz will leave his post, the sources further said.

Porsche Chief Executive Oliver Blume will join the management board of VW Group, one of the sources said.

AutomobilWoche was first to report that Sanz would leave.

Reporting by Andreas Cremer and Ilona Wissenbach; Editing by Edward Taylor

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