Supervisory Board Formed for Volkswagen Truck & Bus GmbH

• Prof. Dr. Martin Winterkorn becomes Chairman of the Board
• Corporate headquarters of the holding is Braunschweig

Volkswagen Truck & Bus GmbH, the holding bringing together Volkswagen AG’s truck and bus business, has formed a Supervisory Board composed on a parity basis. Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen AG, will chair the Supervisory Board. The registered office of Volkswagen Truck & Bus GmbH is Braunschweig.

The shareholder representatives joining Prof. Dr. Winterkorn on the newly-composed Supervisory Board are Hans Dieter Pötsch, member of the Board of Management of Volkswagen AG with responsibility for ‘Finance and Controlling’, Dr. Francisco Javier Garcia Sanz, member of the Board of Management of Volkswagen AG with responsibility for ‘Procurement’, Dr. Leif Östling, Daniela Behrens, State Secretary at the Lower Saxony Ministry of Economics, Employment and Transportation, and Dr. Ferdinand Oliver Porsche.

The employee representatives on the Supervisory Board are Bernd Osterloh, Chairman of the Group Works Council of Volkswagen AG, Gunnar Kilian, Secretary-General of the Volkswagen Group Works Council, Athanasios Stimoniaris, Chairman of the Group Works Council of MAN SE, Günter Pröbster, Chairman of the Works Council at the MAN Nuremberg plant, Johan Järvklo, Representative of the Swedish Metal Workers’ Union at Scania, and Lisa Lorentzon, Representative of the Federation of Salaried Employees in Industry and Services at Scania.

“The composition of the Supervisory Board represents the next big step in strengthening our important commercial vehicles business area. The Supervisory Board and management will work together to bring our business in medium and heavy duty trucks with its strong brands of Scania, MAN Truck & Bus and MAN Latin America closer together and to develop it further successfully”, Winterkorn underscored.

A decision has also been taken on the location of the holding: the registered office of Volkswagen Truck & Bus GmbH is Braunschweig.

Andreas Renschler, member of the Board of Management of Volkswagen AG with responsibility for ‘Commercial Vehicles’, highlighted the fact that “we have reached a further milestone for our commercial vehicles holding with the composition of the Supervisory Board of Volkswagen Truck & Bus and the decision on the corporate headquarters. Together with the Supervisory Board we decided on Braunschweig because the airport there guarantees us direct access to our brands. That was the decisive factor for all involved.” Renschler continued: “In a next step the management and the Supervisory Board will draw up the overall strategy for our truck brands. Our stated goal is to develop the alliance between MAN, Scania and MAN Latin America to become a global champion.”

Bernd Osterloh said: “The Supervisory Board of the truck and bus holding is a strong body that can focus fully on the needs of the medium and heavy duty commercial vehicle business. The colleagues at MAN and Scania are integrated on an equal footing and can therefore meaningfully represent the interests of employees at their plants. By bringing together our commercial vehicle activities under the roof of Volkswagen Truck & Bus we are taking account of the significance of our strong truck brands within the Volkswagen Group.” Commenting on the decision to locate the holding’s headquarters in Braunschweig, the Chairman of the Volkswagen Group Works Council added: “Deciding on a neutral location for the commercial vehicles headquarters is a good idea. It is to function as a link between the strong and independent brands.”

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