Volkswagen CEO to take responsibility for China business: source

[November 16, 2018]  HAMBURG (Reuters) - Volkswagen chief executive <VOWG_p.DE> Herbert Diess will take on responsibility for the carmaker's business in China, a source said as VW's supervisory board met in Wolfsburg on Friday.

Diess will take over the China role early next year from Jochem Heizmann, who will retire, the source told Reuters.

"The Chinese government expects that company leadership is routinely present in China," the source added.

Volkswagen declined to comment on the news, which was first reported by German newspaper Handelsblatt.

VW is due to hold a news conference at 1130 GMT as its board votes on a multi-billion euro investment plan.

(Reporting by Jan Schwartz; additional reporting by Ilona Wissenbach in Frankfurt; writing by Thomas Seythal; editing by Tassilo Hummel/Sabine Wollrab/Alexander Smith)

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