BERLIN (AP) _ German automaker Volkswagen AG has named Stefan
Jacoby as president and CEO of Volkswagen of America, Inc., the
company said Thursday.
Jacoby, currently executive vice-president for marketing and
sales with the company's Volkswagen Group, succeeds Frank Witter,
who is moving to Volkswagen Credit to become co-president with Kevin
Kelly, the company said.
In a news release, VW said that Jacoby, 49, would restructure the
automotive business in the U.S. ``in close co-ordination with the
board of management.''
``The objective is to achieve further significant expansion in
the position of Volkswagen and Audi on the U.S. market through
attractive and competitive products.''
Volkswagen of America, headquartered in Auburn Hills, Mich., is a
subsidiary of Volkswagen AG, based in Wolfsburg, Germany.