Volkswagen software subsidiary CARIAD appoints new CEO for comprehensive transformation

Peter Bosch, CEO of Cariad as of June 1

(IN BRIEF) CARIAD, Volkswagen Group’s software subsidiary, has announced a comprehensive realignment plan to accelerate execution of the E³ platforms, develop software-defined vehicles (SDV), and intensify technology partnerships with tech players. Peter Bosch, former Member of the Board for Manufacturing at Bentley Motors, has been appointed as CARIAD’s new CEO to oversee the realignment process. Two software experts will also join the CARIAD Board of Management. Plans for an integrated project house with Volkswagen and Audi will develop the next generation of SDVs. The realignment aims to create a sustainable, technology-driven future for CARIAD and the Volkswagen Group.

(PRESS RELEASE) WOLFSBURG, 8-May-2023 — /EuropaWire/ — Volkswagen Group (ETR: VOW3), one of the world’s leading manufacturers of automobiles and commercial vehicles, announces that its software subsidiary, CARIAD, has unveiled a comprehensive realignment plan that has been approved by its supervisory board. This will involve a restructuring of the organization, accelerated execution of the E³ platforms, the development of software-defined vehicles (SDV), intensified technology partnerships with strong tech players, and the adoption of a new leadership and team model.

Oliver Blume, CEO of the Volkswagen Group and Chairman of the Supervisory Board of CARIAD, commented: “Last year, we drew up a ten-point plan for operational and strategic areas of action within the Volkswagen Group. One key element is the realignment of CARIAD, and we have already made good progress. We are now setting the next milestones for advancing strategic, structural and personnel development. CARIAD focuses on the development of digital future technologies for the Group brands. We are stepping up the pace and broadening our approach to partnerships. This is designed to combine our competences with the best solutions on the market for the benefit of our customers. The outcome is even closer software-vehicle development interaction.”

“When I took office in September 2022, I underscored that CARIAD is a key success factor for the Volkswagen Group. As one of the core elements in our 10-point plan, we have addressed key issues:

• Sharpening CARIAD’S core competences
• Revising the interfaces with the brands
• Realistic sequences for the software architectures
• Boosting effectiveness
• Expanding strategic partnerships

We have taken important decisions on these issues in the past few months and have set our guardrails – for example, we have organized the software architectures and their timelines for our vehicle projects. We have drawn further specific conclusions on the basis of our thorough analyses, and are now advancing the in-depth development of CARIAD. We would like to thank Dirk Hilgenberg and his team for their passionate commitment and the progress they have achieved. We are already in talks with them about possible new roles within the Volkswagen Group,” Oliver Blume said.

Effective June 1, 2023, Peter Bosch, former Member of the Board for Manufacturing at Bentley Motors, has been appointed as CARIAD’s new CEO to oversee the realignment process. Bosch has previously held various roles within the Volkswagen Group, including positions within the Volkswagen brand, and was also a Member of the Board of Scout Motors. Alongside Bosch, two software experts will join the CARIAD Board of Management, whose names will be announced soon. Rainer Zugehör will continue in his role as Chief People Officer (CPO).

“Peter Bosch is the right CEO at the right time,” Oliver Blume said. “He is a strategist, an enabler and a team player. He successfully proved that at Bentley. He knows the Volkswagen Group well and also has extensive experience in the fields of change and consulting.”

CARIAD’s transformation will be supported by an experienced Transformation Board, bringing together a team of highly competent managers from all Volkswagen Group brands and CARIAD experts. The supervisory board has specifically focused on appointing a team of experienced managers to steer the transformation process.

CARIAD’s realignment aims to increase its role in the development of future vehicles, working closely with Volkswagen and Audi. Plans for an integrated project house with Volkswagen and Audi will develop the next generation of SDVs.

“The focus is on steering the transformation process and advancing cooperation between CARIAD and the Volkswagen Group brands – with a team spirit, fairness and passion,” Michael Steiner, Member of the Supervisory Board of CARIAD and responsible for development in the Volkswagen Group, said. According to Steiner, the Supervisory Board specifically focused on a team of experienced managers from all Volkswagen Group brands, CARIAD experts and new external managers.

The realignment of CARIAD is expected to create a sustainable, technology-driven future for the company and the Volkswagen Group as a whole.

Media contact:

Pietro Zollino
Volkswagen Group | Deputy Head of Group Communications & Head of Corporate Communications
Tel. +49 (0) 172 8371431
pietro.zollino@volkswagen.de

SOURCE: Volkswagen AG