The German newspaper Frankfurter Allgemaine (FAZ.net) reported this morning that Volkswagen of America head Stefan Jacoby has been chosen as the replacement for current Volvo Cars chief executive Stephen Odell. We’ve been told that Volkswagen’s own employees have not yet been officially notified but highly placed sources at the German company’s Herndon, VA headquarters confirm this is the case and an official communication is expected shortly.
Word from FAZ is that Mr. Jacoby had set his sights on the chief sales position for Volkswagen AG in Wolfsburg but when a replacement for that position was recently named and it was not him he accepted the top spot at Volvo. According to FAZ (but unconfirmed by this website’s editors) is that Volvo had been in talks with several other unnamed Volkswagen executives for the spot.
Jacoby’s own reign at Volkswagen of America since 2007 has been impressive if short-lived. Volkswagen’s strong upward movement despite a down market has been impressive but more significant changes such as the new mid-sized sedan and start of production of VW’s new American factory in Chattanooga have yet to begin. It’s unclear at this point whether Volkswagen has a replacement ready to take the helm at this point of quick change going on at VW of America.