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German carmaker Volkswagen strengthens focus on China, reshuffles leadership of truck business
BERLIN (AP) ' German carmaker Volkswagen is strengthening its strategic focus on expanding sales in China.
Volkswagen AG said its supervisory board on Saturday approved the creation of a new board of directors position managing all of the group's China business.
The group ' which includes car brands such as Volkswagen, Audi, Porsche Skoda and Bentley ' says the move "reflects China's importance as the world's largest car market."
It says the company sold 2.3 million cars there last year, resulting in a '2.6 billion operating profit.
Volkswagen says the new China department will be run by Jochen Heizmann, who leaves his position as the head of the group's truck business, which includes the brands Scania and MAN.
Scania CEO Leif Oestling will succeed Heizmann as the new chief of the truck business.