Rick Maiman/Bloomberg News Stefan Jacoby, president and chief executive of Volkswagen Group of America.
Stefan Jacoby, Volkswagen Group of America president and chief executive who had been the main architect of the company’s efforts in the United States since 2007, is reportedly leaving the company to head Volvo’s worldwide operations. The German newspaper Frankfurter Allgemeine Zeitung reports that Mr. Jacoby will replace Stephen Odell, a Briton, at Volvo in August.
Mr. Jacoby was the company’s chief strategist as it embarked on an ambitious effort to increase sales in the United States. He has been overseeing the opening of a $1 billion car plant in Chattanooga, Tenn., and many new model introductions (including several hybrids). The Volkswagen Group of America set a daunting long-term target of selling a million vehicles (including Audis) here by 2018. It also wanted to double its market share, to 4 percent, by 2012.
Michael Lohscheller, who has been executive vice president and chief financial officer of the group since 2008, was chosen to head Volkswagen Group of America on an interim basis. He had been involved in overall strategy in the United States and in opening the Chattanooga plant, which will produce a new midsize sedan for the American market.
Mark Barnes, the chief operating officer since 2007 and a former Chrysler executive, will be the interim head of Volkswagen of America.
Jill Bratina, Volkswagen Group vice president for communications, declined to comment about Mr. Jacoby’s departure, referring reporters to a statement. “We are holding contract talks with Stefan Jacoby,” the company said. “These talks have by no means been concluded yet.”
Part of Volkswagen’s American strategy under Mr. Jacoby was winning converts at the lower end of the market. The company recently introduced, with an event in Times Square in New York featuring the singer Katy Perry, a $16,000 Jetta model for 2011. “We want to play a very big role in the U.S. market,” Mr. Jacoby said in an interview this month. “We enjoy competition, and with this car, we are more than ever in the game.”…
