VW exec Jacoby reportedly heading to Volvo

Volkswagen of America said it is in talks with CEO Stefan Jacoby, who reportedly has been tapped to run Volvo Car Corp.

In the meantime, VW has temporarily named two executives to take over Jacoby's duties, the German automaker said in a statement Thursday.

"We are holding contract talks with Stefan Jacoby," the statement said. "These talks have by no means been concluded yet. Until the contractual situation has been clarified, Michael Lohscheller will assume interim responsibility for Volkswagen Group of America, and Mark Barnes will assume interim responsibility for Volkswagen of America."

Lohscheller has been CFO of the Volkswagen Group since 2007. Barnes has been VW of America COO since 2007.

The German newspaper Frankfurter Allgemeine Zeitung reported that Jacoby, 52, would replace Volvo CEO Stephen Odell, 55, who will become head of Ford Motor Co.'s European operations.

In May, Ford called a report that Odell will lead Ford of Europe "speculation."

At the time the Frankfurter Allgemeine Zeitung said Odell will replace current Ford of Europe CEO John Fleming when Volvo's sale to Zhejiang Geely Holding Group is completed.

By Diana T. Kurylko- Automotive News