New Volkswagen CEO: We must change faster

New Volkswagen CEO: We must change faster
The Associated Press

FRANKFURT, Germany (AP) — Volkswagen’s new CEO says the automaker must “significantly step up the pace” as it pushes ahead with electric and self-driving vehicle technology and offers transportation as a digitally driven service.

Herbert Diess said Friday that a newly announced management structure bundling the company’s dozen brands in just three divisions would mean faster decisions as the company keeps up with sweeping change in how people use cars.

The 59-year-old Diess was named on Thursday as the company’s new CEO, replacing Matthias Mueller.

As CEO, Diess will also be responsible for the company’s mass market brands Volkswagen, SEAT and Skoda, as well as digital services and vehicle software. Luxury group Audi will be placed in a separate premium division and high-end brands Porsche, Bentley, Bugatti and Lamborghini in a super-premium group.