Volkswagen’s new CEO, Herbert Diess, to consider asset sales

Volkswagen’s new CEO Herbert Diess on Friday stated he will consider asset sales and seeks to turn the multi-brand conglomerate into a slimmed down company with strong brands.

Speaking during his first news conference as chief executive at automaker’s headquarters in Wolfsburg, Diess stated he would look at the different assets in VW’s portfolio, which consist of Renk and MAN Diesel, and review whether keeping them makes sense.

“We will review all options,” Diess stated, adding that this could include investing in the businesses or proceeding a sale.