At a recent press event in Germany, Bernd Osterloh, a member of Volkswagen’s supervisory board, said Renschler will evaluate the need for possible acquisitions as he works to integrate VW’s truck units, which include MAN SE and Scania. He said VW is planning to create a separate holding company to help with that effort.
Osterloh also downplayed speculation that VW was interested in Paccar Inc., adding that owners of the U.S.-based truck maker would not be willing to sell anyway, according to reports from Bloomberg News.
Renschler was previously head of Daimler AG’s global trucks unit. In April 2013, he was shifted to lead Mercedes-Benz, Daimler’s luxury car and van operation. However, he left that position in January 2014, and shortly after was hired by VW, though he could not formally begin work until this month.
Wolfgang Bernhard now runs Daimler’s global trucks unit.