Volkswagen aligns MAN, Scania truck brands in new holding
Named Trucks & Bus GmbH, VW’s new holding will be led by Andreas Renschler, member of the Board of Management Volkswagen Aktiengesellschaft. VW’s controlling stakes in Munich-based MAN SE and Swedish truck maker Scania will be transferred into Truck & Bus GmbH. MAN, wholly owned by VW and holding more than 75% of the shares in Scania.
In an agreement by the supervisory board on Tuesday, VW said the new holding will coordinate management strategies across the truck brands in human resources, development and purchasing.
Last month, Ferdinand Piech, who served in VW for more than two decades, resigned as chairman after losing a showdown he had provoked with Chief Executive, Martin Winterkorn.