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CEO Jacoby out at Volvo (10/19/12)

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  1. copyright protections2:51
  2. General Motors1:51
  3. Super Bowl4:08
  4. GM2:46
  5. Tim Mahoney3:35
  6. Automotive News4:42
  7. Dan Akerson4:57
  8. Department of Labor2:23
  9. Hebrew University of Jerusalem3:11
  10. People Magazine3:01

Fri, 19 Oct 2012|

Departure called unrelated to health; ex-MAN CEO named new chief; GM wins Einstein ruling; plus, VW's 'human' ad touch.

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Automatically Generated Transcript (may not be 100% accurate)

No I'm Jennifer bond but come -- late Friday edition of first -- Coming out what you're not going to see in VW's and that. That after a look at what's topping the news. Step filing a Coby is out as CEO of all hello. The 54 year old former -- playing an executive. And medical leave since suffering a stroke last month. But according to vice chairman -- all of -- quotes -- full health situation has nothing to do with it. The board made that decision that it needs a new CEO to take the company in to a new fades. Volvo has named -- board member accounts panels and the former head of German truck maker mind as its new chief executive. Yeah -- -- Volvo as CEO in August of 2010. When China's geely baucus Swedish auto maker from forward. The German national was recruited from his position in as head of VW's US operation. In the stroke -- Coby has had limited mobility in his right arm and -- The ball -- had said he was making progress toward a goal of returning to work soon. Geely chairman at least shoot who praised -- -- for his valuable and strong contribution. In developing a new strategy. And thinking ball float through the first two years following its acquisition. Analysts and who is 61 with CEO of Volkswagen's mine from 2005. To 2009. If find that covers medical costs for union retirees at General Motors says its shortfall why did last year. One reason that declining value of its investments in AG and that trust has a ten point 2% stake in G and may he would the automaker's second largest shareholder behind big US treasury. That trust with 40% underfunded at eight and planning on letting. Up from a 26%. Shortfall in 2010. That's according to a financial filings with the US Department of Labor. A similar trust that Oprah sees that benefits for Ford Motor unionized retirees. Reported a 37%. Shortfall. Up from about 26%. Last year. And -- federal judge in California has tosses out a suit challenging the use of Albert Einstein's -- -- In a GM an advertisement. Featuring news reports. That judge ruled that copyright protections for Einstein had expired. G and use that kind has an age in an ad for its 2010 terrain. The ad which appeared in People Magazine in November of 2009. Featured -- is based on a muscular body with and that since I DR sexy too. Hebrew University of Jerusalem sued in 2010. Arguing that it owns publicity rights as outlined in Einstein's well. Chest pounding breaking. And people jumping up and downs shouting. Those are the things you're not going to find in Volkswagen of America is ad campaign. Says that marketing chief Tim Mahoney. We speak in a tone that is Smart sophisticated. Like the people we want to reach you know if we needed to talk about Q a century we tell kind of relevant funny entertaining story. And we just don't drone on about how awesome -- keyless entry is because we know that. But they don't care and so it's about being respectful of your audience. Mahony says the VW's main strategy. Human story is simple way. He -- VW is popular -- eleven Super Bowl commercial featuring a young got finger at an example of that. And the prince at a recipe appears to be helping. US sales that beat LB division are up 37%. So. -- this year. We like to think we're living in Volkswagen times again and all of the work that's being done from the product with the team with the marketing is really. Producing some pretty amazing results we've had the vessels performance and 39 years. Best market share and 32 years. Mahoney recently speaking at Automotive News is marketing seminar in New York. We'll leave you now with a first shift but notes GM's North America president mark always turns 49 today. And on Sunday his boss CEO Dan Akerson will turn 64. And that ends our show it on the news.com. All weekend long we're industry update we'll see you Monday.

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