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VW CEO Diess will take responsibility for China business
Reuters | 2018/11/20

HAMBURG, Germany -- Volkswagen Group CEO Herbert Diess will take on responsibility for the automaker's business in China in addition to his other duties.

The direct assignment of responsibility to Diess takes account of Chinas growing importance and the rapid pace of technological development in the country, VW said in a statement.

China is increasingly setting global standards in e-mobility, connectivity, automated driving and shared mobility, VW said Friday.

Diess will take over the China role in January from Jochem Heizmann, who will retire.

Stephan Woellenstein, 55, CEO of Volkswagen China Passenger Cars and executive vice president of Volkswagen China Investment Co., will manage business operations in China as CEO, VW said.

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