Jacoby Named VWA Boss

Stefan Jacoby is named president and CEO of Volkswagen of America Inc., effective Sept. 1.

Volkswagen Group’s management board approves the appointment today.

Jacoby, 49, replaces Frank Witter, 48, who will share the presidency of Volkswagen Credit Inc. with current office-holder Kevin Kelly.

Jacoby will “restructure” the U.S. business to “further significant expansion” of the auto maker’s core brand and its upscale Audi division, the auto maker says.

Jacoby had been serving as Volkswagen Group executive vice president-global marketing and sales, in Germany.