Volkswagen USA Boss Steps Down ‘To Pursue Other Opportunities’

The U.S. subsidiary of German auto giant Volkswagen AG announced company President and CEO Michael Horn was leaving effective immediately. VW said Horn, 54, was leaving “to pursue other opportunities.”

Volkswagen Group said Hinrich J. Woebcken will take over as Volkswagen Group of America’s interim CEO. He was recently appointed head of the North American region.