Volkswagen Names Thomas Schmall to Oversee Group Components Business

By Max BernhardFeaturesDow Jones Newswires

Germany's Volkswagen AG (VOW.XE) said Wednesday it appointed Thomas Schmall to head its new components unit for the group, part of a wider revamp aimed at bolstering inhouse capabilities and advancing the shift to electric vehicles.

Mr. Schmall was previously in charge of overseeing the Volkswagen brand's components business as a member of the management board.

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As part of its 2025 strategy, the auto maker announced plans last year to combine the components activities of its separate brands into a single unit in an effort to cut costs amid its costly diesel scandal. Until now, every brand has overseen its components business individually. Altogether about 80,000 employees at 56 separate facilities develop and make components for the Volkswagen group, the company said.

Write to Max Bernhard at; @mxbernhard

(END) Dow Jones Newswires

October 11, 2017 05:48 ET (09:48 GMT)