By Max Bernhard 
 

Volkswagen AG (VOW.XE) said Friday that it is handing over regional responsibility to individual brands as part of a restructuring of the group.

"One lead brand will assume steering responsibility for a clearly defined region of the world across the group," Volkswagen said.

Volkswagen's namesake brand will be responsible for North and South America, as well as the Sub-Saharan region, while Spanish marque Seat will oversee the North African market, the company said.

Premium car maker Audi will be in charge of the Middle East and the Asia-Pacific region, except China, which will be overseen by the group.

Czech brand Skoda will be responsible for Russia and India, VW said.

"We are distributing responsibility across a number of shoulders and making Volkswagen faster, slimmer and more efficient," Chief Executive Herbert Diess said.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

June 22, 2018 06:00 ET (10:00 GMT)