Volkswagen AG announced on Monday that Thomas Schaefer has been appointed as the new CEO of its namesake Volkswagen brand, effective July 1.
Mr. Schaefer, who has been the chairman of the Skoda brand since August 2020, was appointed chief operating officer of the Volkswagen brand on Friday and will then take over as CEO of the Volkswagen brand, according to the German automaker.
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| New Volkswagen CEO: Thomas Schäfer |
He will also join the management board of the Volkswagen Group, where he will be in charge of the volume brand group.
Ralf Brandstaetter, the current Volkswagen brand chief, will stay on until June 30 before taking over responsibility for the automaker's China business on August 1, as previously announced.
Mr. Schaefer's position as management-board chairman of Volkswagen's Skoda auto brand will be taken over by Klaus Zellmer on July 1, the car maker announced.