Volkswagen replaces Herbert Diess as CEO of VW brand

Volkswagen on Monday named Ralf Brandstaetter as the new chief executive (CEO) of its core VW car brand, replacing Herbert Diess, who retains his title as head of Volkswagen Group, the carmaker said.

In a statement published on Monday, Volkswagen said Brandstaetter, previously brand chief operating officer, would assume the new role on July 1.