Audi to take care of Bentley from March 2021

Representational Purpose

No, VW is not selling Ducati

The Volkswagen Supervisory Board has taken several decisions during a recent meeting and one of which is re-alignment of the personnel. Dr. Arno Antlitz, the current member of the Board of Management of Audi AG responsible for Finance and Legal Affairs, will succeed Frank Witter as Group CFO, with the latter’s contract, as is known, expiring at his own request at the end of June 2021.

The Procurement and Components divisions will be separated from each other. A new ‘Technology’ division will be set-up, which will be led from 1 January 2021 by Thomas Schmall, the current CEO of Volkswagen Group Components. In the future, Schmall will be responsible group-wide for all components-related activities, the marketing of the platforms to third parties, the development and manufacturing of battery cells as well as related procurements, the areas of charging and charging systems and the corresponding joint ventures worldwide.

Murat Aksel will be taking over the Purchasing Division in the Group from 1 January 2021. He will continue his function as a member of the Board of Management for the Volkswagen Passenger Cars brand responsible for purchasing. The separation of Purchasing and Components is meant to allow Murat Aksel to concentrate fully on optimizing the material costs throughout the Group, the company said.

All three newly appointed Group Board of Management members will receive a 3-year contract in accordance with the new German Corporate Governance Code.

In the upcoming years, we will continue to invest in electromobility, digitalization and battery technology and, at the same time, substantially reduce fixed costs and material costs throughout the Group in all brands and regions in order to ensure Volkswagen’s future viability. – Dr. Herbert Diess, Chairman of the Board of Management

The Board has agreed that Lamborghini and Ducati will remain part of the Volkswagen Group. Also, the Bentley brand will fall under the Audi management from 1 March 2021 “in order to allow for synergies to be achieved as part of the electrification strategy of the two premium brands”.

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