Write-offs, protests, personnel changes: The situation at Volkswagen is becoming increasingly critical
The group has to downsize its plans and is losing an important manager to a competitor. That its owner comes from China is telling.
Klaus Zellmer, the current head of Skoda, is leaving the Volkswagen Group to become the CEO of Volvo, effective October. Zellmer's departure is a significant loss for VW, which recently announced a disappointing forecast for the year. Skoda, under Zellmer's leadership, has been a profitable outlier within the VW Group, with a high return on sales. Volvo, owned by China's Geely, has struggled with software issues and a transition to electric vehicles, but Zellmer will now be tasked with turning the company around.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
