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October 5, 2021

Vitesco elects Siegfried Wolf as supervisory board chairman

Austrian entrepreneur appointed until first AGM.

By Simon Warburton

Vitesco has elected Siegfried Wolf as chairman of its supervisory board.

The Austrian investor and entrepreneur has been appointed until Vitesco’s first Annual General Meeting.

At the AGM in May next year, Wolf will stand for election by shareholders. Employee representative, Ralf Schamel, has been elected as deputy chairman of the supervisory board.

“I am delighted to be able to play an important role for the future of Vitesco Technologies as chairman of the supervisory board and would like to express my sincere thanks for the trust placed in me by the members of the board,” said Wolf.

“We will support the company’s decisive focus on e-mobility and its further development as a listed company.”

As announced in the prospectus, the supervisory board also passed a resolution to appoint heads of the Sensing & Actuation and Electrification Technology business units to the management board.

As a result, Klaus Hau, head of Sensing & Actuation business unit and Thomas Stierle, head of the Electrification Technology business unit, will join the management board with immediate effect. CEO, Andreas Wolf, will continue to head the Electronic Controls business unit on an interim basis.

CFO, Werner Volz, leads the Contract Manufacturing business unit consisting of the contract manufacturing activities between Continental and Vitesco Technologies, which, as previously communicated, will be phased-out in the coming few years.

Previously, the management board of Vitesco Technologies Group was made up of Andreas Wolf (CEO), Werner Volz (CFO) and Ingo Holstein, (CHRO).

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