Volkswagen Group appoints new head of group and product strategy

Core Insights - Volkswagen has appointed Ludwig Fazel as the new head of group and product strategy, effective December 1, succeeding Stefan Weckbach [5][8] - The company reported an operating loss of €1.3 billion ($1.5 billion) in Q3, attributing the decline to U.S. tariffs and ongoing restructuring costs [6] Leadership Changes - Ludwig Fazel previously held dual roles as COO of Volkswagen Group Components and head of strategy and platform business at Volkswagen Group Technology, bringing extensive experience to his new position [8] - CEO Oliver Blume expressed confidence in Fazel's ability to advance the company's strategic goals in challenging environments [5] Strategic Initiatives - Volkswagen is focusing on boosting revenue while executing long-term electrification plans, which include co-developing a zonal architecture and vehicle platform for software-defined vehicles in collaboration with Rivian [6][7] - Fazel played a significant role in the sale of vehicle platforms and components to external partners, including Ford and Mahindra, indicating his strategic importance in the company's operations [3][4]