Duncan MovassaghiVW replaces VP after sales drop
Volkswagen of America on Monday named Duncan Movassaghi as senior vice president of sales for the Volkswagen brand, effective Feb. 1. In this role Movassaghi will direct activities including management of U.S. sales regions, sales operations, retail programs and fleet and remarketing.
“His strong automotive and sales background combined with his experience within the Volkswagen Group will be an invaluable asset as Volkswagen seeks to grow in the U.S. market,” said Derrick Hatami, executive vice president of sales and marketing for Volkswagen of America.
Movassaghi succeeds Ron Stach, who said he left VW to pursue other career opportunities after Volkswagen U.S. sales declined in November and December. VW sales for all of 2017 were up 5.2 percent, however.
Movassaghi most recently served as managing director of Skoda UK where he had full responsibility for the brand in the UK with oversight of sales, planning, customer quality, network development, marketing and public relations.
TVA directors exit after terms end
The terms of former TVA Chairwoman V. Lynn Evans and TVA Director Marilyn A. Brown ended last week with the adjournment of Congress, TVA disclosed in a regulatory filing Monday.
The departure of the two Democratic directors, who were appointed by former President Obama, temporarily leaves the TVA board with only four directors, which is less than a quorum of the nine–member panel.
But the Senate has confirmed the appointment of four new TVA Directors offered by President Trump, including Jeff Smith from Tennessee, Kenny Allen from Kentucky, A.D. Frazier from Georgia and James R. Thompson III from Alabama. The new TVA board members must still be sworn into office, however.
Trump has yet to nominate a candidate for the other TVA board vacancy.
The 5-year terms of Evans and Brown ended in May but they were allowed to continue on the TVA board while the previous Congress was in session or until their successors were confirmed and sworn into office.
Ford offers diesel for F-150 pickup
Ford Motor Co. is offering a diesel engine in its F-150 pickup for the first time.
Heavy duty trucks such as the F-250 or F-350 have always had diesel engines, but full-size trucks such as the F-150 have not. Ford is hoping to gain some customers from rivals Ram and Nissan, which both offer diesels in their full-size trucks. The F-150 is the best-selling vehicle in the U.S.
Ford expects the F-150 to get 30 miles per gallon on the highway with the new 3.0-liter V6 diesel and a 10-speed transmission. That’s 4 mpg better than the current most efficient gasoline-powered F-150.
The company offers six engine choices for the F-150. It says the diesel is targeted at customers who tow or haul big loads and want better fuel economy.
Ford expects around 5 percent of F-150 buyers will opt for the diesel, which costs $4,000 on the Lariat and Platinum versions or $3,000 on the King Ranch.
Customers can order a diesel F-150 starting this month. Deliveries will begin in the spring.
Emory medical program gets $400 million gift
Georgia’s Emory University is receiving a $400 million gift – the largest in the history of the institution – to find new cures for disease and improve lives.
The private school in Atlanta announced Monday the Robert W. Woodruff Foundation has pledged the money for medical advances and to enhance people’s health.
Dr. Jonathan Lewin, CEO of Emory Healthcare, said the gift will allow Emory to accelerate scientific discoveries.
The Woodruff Foundation said it was inspired by the legacy of Robert Winship Woodruff, longtime leader of the Atlanta-based Coca-Cola Co., to support charitable, scientific and educational activities.
Emory President Claire Sterk said in a statement that Woodruff’s spirit of generosity “is creating hope for those facing the most difficult days of their lives.”
Kohl’s sales up 6.9 percent for holidays
Kohl’s put up strong sales numbers throughout November and December, joining other traditional department stores in a much needed holiday rally.
Comparable-store and total sales surged 6.9 percent during the critical end-of-year shopping period, Kohl’s said Monday, providing more evidence department stores are learning to better compete against Amazon.com.
Kohl’s, which operates local stores in Hixson, East Brainerd, Dalton, Ga., and Cleveland, Tenn., boosted its earnings expectations for the entire year, thanks to the rising volume of online sales and its ability to drive traffic to stores.
Neil Saunders, Managing Director of GlobalData Retail, said Kohl’s is gaining market share.
“Kohl’s performance demonstrates that many of the initiatives undertaken over the past year are now paying off,” Saunders wrote.
H&M apologizes for ad
Clothing giant H&M apologized and removed an advertising image of a black model in a sweatshirt with the words “Coolest monkey in the jungle.”
The brand removed the image, but kept in place other designs modeled by white children.
U.K. Labour Party lawmaker Kate Osamor tweeted that she was “totally shocked, dismayed to say the very least” by the image and, addressing H&M, asked “do you think this imagery is an appropriate representation of a young black boy?”
The retailer said Monday the “image has now been removed from all H&M channels and we sincerely apologize to anyone this may have offended.”