Earlier this week, the Supervisory Board of Volkswagen AG announced a major executive realignment as it gears up for a greater push into electromobility and digitalization. One of the biggest changes was the naming of Dr. Arno Antlitz as its next Management Board Member for Finance and IT, or in other words, its next CFO.
He will succeed Frank Witter, who will leave the German auto group’s Management Board at the end of June 2021.
Antlitz, who currently serves as the Board Member for Finance and Legal Affairs at Audi, will primarily be focused on further efficiency improvements, a task he has already executed well.
Audi CEO Markus Duesmann lauded Antlitz for guiding the company through a challenging year, crediting his strict cost control measures for improving the company’s stability during the pandemic. Peter Mosch, Chairman of the General Works Council of Audi said, “For this, he deserves the thanks of all Audi employees.”
Duesmann added, “We would like to express our warm thanks for his important contribution to the future strategic direction of the company and for his outstanding work for the Four Rings brand. We wish him every success as Board Member of the Volkswagen Group.”
Antlitz began his professional career at the management consultancy McKinsey & Company, where he focused on strategy and organizational and cost optimization in the automotive and supply industry. He initially joined the Volkswagen Group in 2004 and by 2010 he became the Board Member for Controlling and Accounts at Volkswagen Passenger Cars, a position he held until he joined Audi’s management team in March 2020.
Antlitz’s efficiency directive will be incredibly important to Volkswagen’s future, as the automaker is on a tight schedule to create almost 70 fully electric vehicles by 2030 (20 of which are already in production).
“Together we are rigorously pressing forward with the largest transformation in the history of Volkswagen. In the upcoming years, we will continue to invest in electromobility, digitalisation 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,” said Dr. Herbert Diess, the Chairman of Volkswagen’s Board of Management.
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