WOLFSBURG (dpa-AFX) - The Volkswagen Group (VKW.L, VLKAF.PK, VOW.BE) announced new allocation of responsibilities on Group Board of Management and downsizing of Board of Management from twelve to nine members. The changes will take effect as of September 1, 2022.
The Group Board of Management will be focused on main responsibilities. At Group level, the specialist interdepartmental functions such as Purchasing, Development, Production and Sales will be pooled in an Extended Executive Committee. This committee will be responsible for combining the brands and divisions.
The company said the new Chairman of the Board of Management, Oliver Blume, will focus on strategy, quality, design and the software subsidiary CARIAD. The central Board of Management divisions Fi-nance, Human Resources and Truck & Bus, Integrity and Legal Affairs, IT, Technology as well as China will continue to be represented on the Group Board of Management along with the brand groups Volume, Premium and Sport & Luxury.
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