Volkswagen Names Markus Duesmann as New Audi CEO
November 15 2019 - 9:27AM
Dow Jones News
By Max Bernhard
Volkswagen AG (VOW.XE) on Friday said it will put Markus
Duesmann at the helm of its luxury brand Audi AG (NSU.AG), a little
more than a year after the unit's former chief executive was ousted
following his arrest.
The appointment of the former BMW AG (BMW.XE) manager--effective
April 1--had been widely expected after Audi said in July last year
that Mr. Duesmann would join its board "as soon as he is able to do
so," without specifying what his exact role would be.
According to German media reports, Mr. Duesmann wasn't
immediately available to fill the post as a result of competition
clauses in his contract at BMW.
Rupert Stadler, Audi's former chief executive, was arrested in
summer last year and later charged with fraud in relation to the
car maker's diesel-emissions scandal. Mr. Stadler has in the past
said that he had no prior knowledge of any manipulation.
After the arrest, Audi appointed Bram Schot as interim and later
permanent chief executive. He will leave the company at the end of
March, Volkswagen said now.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
November 15, 2019 09:12 ET (14:12 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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