FRANKFURT, Germany (AP) - Automaker Volkswagen AG announced Tuesday that it is promoting Reinhard Jung, who has been in charge of production at its core Volkswagen brand, to chief executive of the Skoda Auto unit.
Jung will replace Detlef Wittig, who is retiring in October but will remain as a consultant with Europe's biggest automaker.
The VW group includes the Skoda, Audi, Seat, Bentley and Lamborghini brands.
Skoda is the Czech Republic's largest and most profitable exporter. It sold a record 549,667 cars in more than 90 countries last year and plans to produce 580,000 cars this year.
Shares of Volkswagen fell 1.5 percent to euro122.22 (US$167.03) in an overall lower Frankfurt market.
