Chrysler Group LLC said on Monday it is creating a new Ram brand for its Dodge-branded trucks as part of a plan to revive the company's vehicle lineup.

Chrysler, which has been rushing to revamp its old product lineup after it emerged from bankruptcy in June under a new management led by Fiat SpA (FIA.MI), said its Dodge brand will be split into two: the Dodge Ram brand and the Dodge Car brand.

People with knowledge of the matter told Reuters last week that the No. 3 U.S. automaker planned to create a Ram brand for what have been Dodge-branded trucks.

This reorganization will allow us to protect and develop the unique nature of the product offerings within the Dodge Brand, Chrysler chief executive Sergio Marchionne said in a statement.

The company named Fred Diaz Jr. to lead the Dodge Ram brand and Ralph Gilles to head the Dodge Car brand.

Meanwhile, Olivier Francois, who serves as head of Fiat's Lancia brand, has been named to head the Chrysler brand. Francois retains his position at Fiat. (Reporting by Soyoung Kim, editing by Gerald E. McCormick)