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Volkswagen replaces Argentina unit CEO

Volkswagen AG said Dec. 12 that Thomas Zahn has been appointed as president and CEO of Volkswagen Argentina SA, effective Feb. 1, 2019.

Zahn replaces Hernan Pablo Vazquez Santa Cruz, who will take a new role within the group, the German carmaker said.

Prior to his appointment, Zahn was the head of Volkswagen's sales and marketing division in Germany, until he was succeeded by Holger Santel, effective Nov. 1.

The appointment comes months after Reuters reported that Volkswagen cut its sales outlook in Argentina in 2018 to a growth of 5% from a previous estimate of 20%.