Volkswagen replaces US chief Jacoby amid report that he’s headed for Volvo
By APThursday, June 24, 2010
VW replaces US chief as contract talks continue
DETROIT — Volkswagen AG says it has replaced Stefan Jacoby as its top U.S. executive while it continues contract talks with him.
The statement comes as a German newspaper reports that Jacoby has been hired to head Swedish automaker Volvo. Ford Motor Co. is selling Volvo to Chinese automaker Geely Holding Group, with the sale to close in the third quarter.
Volkswagen says talks with Jacoby have not ended. But he will be replaced in the interim by two other executives.
A Volvo spokesman would not comment on the whether Jacoby had been hired.
Jacoby has been the face of Volkswagen’s ambitious U.S. expansion plans, which include a new factory in Tennessee to build midsize cars.
YOUR VIEW POINT
