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Volkswagen announces new head of Volkswagen of America

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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.

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Volkswagen announces new head of Volkswagen of America
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