Volkswagen Aktiengesellschaft Board member Dr. Horst Neumann retires with effect from November 30, 2015

CEO Matthias Müller temporarily assumes responsibility for Human Resources

Wolfsburg, 23-11-2015 — /EuropaWire/ — The member of the Board of Management of Volkswagen Aktiengesellschaft with responsibility for Human Resources, Dr. Horst Neumann (66), retires with effect from November 30, 2015. The Supervisory Board expects to name his successor shortly. In the intervening period the CEO of Volkswagen Aktiengesellschaft, Matthias Müller, will temporarily assume responsibility for Human Resources and Organization.

The Supervisory Board, the Board or Management and the Group Works Council thank Neumann for his unstinting commitment to safeguarding jobs and increasing productivity, to personnel development and enhancing employer attractiveness.

The Chairman of the Supervisory Board of Volkswagen Aktiengesellschaft, Hans Dieter Pötsch, paid tribute to Neumann’s achievements, saying: “Dr. Horst Neumann has played an instrumental role in the positive development of the Volkswagen Group over the past ten years. This began in 2006 with the collective agreement for the future which Dr. Neumann negotiated with the Works Council very soon after he had assumed responsibility for Human Resources. This agreement reestablished competitiveness at Volkswagen AG in terms of productivity and labor costs, introduced performance incentives for employees covered by collective bargaining, and has allowed the workforce to participate in the company’s success ever since. Dr. Neumann sets great store by the high specialist competence of employees, good work and secure jobs. His guiding principle has therefore always been that competitiveness and job security are two sides of the same coin.”

The Chairman of the Volkswagen Group Works Council, Bernd Osterloh, said: “As employee representatives, we have come to know Dr. Neumann as a straightforward and fair negotiating partner. When opinions differ he takes a hard line, but he never closes the door on a fair balance of interests. Without Dr. Neumann the difficult collective agreement negotiations of 2006 would never have culminated in a good result. This agreement is the foundation for secure jobs and competitiveness at the core brand. Once he had achieved that, Dr. Neumann set about realigning personnel development at Volkswagen and making the company a top employer.”

SOURCE: Volkswagen Aktiengesellschaft