Report: Volkswagen undergoing massive corporate shakeup, could be split into four holding companies

Volkswagen AG hasn’t been having the brightest days recently as the company reached some recent time deadlines and were found to be nowhere near their projected sales figures.

Because of this, there was a major corporate shakeup in an attempt to figure out what went wrong and when. And the shakeup got so big, that even Mr. Volkswagen himself, chairman of the group, Ferdinand Piech, was forced to resign, along with his wife.

Now, according to Handelsblatt, some sources within Volkswagen shared the some information saying that Volkswagen’s on the verge of having their corporate structure overhauled. The plan is to decentralize the automaker into four individual holding companies. Additionally, word is BMW’s former manager, Herbert Diess, might be in charge of one of these four holdings.

Specifics and confirmation haven’t been announced, but Volkswagen AG has major portfolios under its belt and big changes like these won’t be overlooked. As a refresher, Volkswagen consists of themselves, Skoda, SEAT, Audi, Bentley, Lamborghini, Ducati, MAN, Scania, Bugatti and Porsche.

Source: Reuters

 


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