Volkswagen Group Core Brand Restructuring Plan

The Volkswagen Group plans to reduce the number of board members on its core brand groups from 29 to 19 to improve management efficiency. This move means eliminating one-third of the board members. After the adjustment, Volkswagen Passenger Cars, Skoda, SEAT/Cupra, and Volkswagen Commercial Vehicles will retain four board members, each responsible for core functions such as operations, finance, sales, and human resources.