Dr. Arno Antlitz succeeds Frank Witter as Group CFO from April 1, 2021

Company press release.

Dr. Arno Antlitz, currently member of the Board of Management of AUDI AG for Finance and Legal Affairs, is to succeed Frank Witter as the Group Board of Management member responsible for Finance at the earlier date of April 1, 2021. The Supervisory Board already announced the change last December. As is known, Witter's contract expires at his own request at the end of June 2021, an earlier changeover was already intended in December. Witter will continue to serve the company in an advisory capacity until then to ensure the best possible transition. He will present the Group's annual financial statements at the Annual Media Conference.

'During almost 30 years of service in various positions within Volkswagen, Frank Witter has driven the Group forward and contributed greatly to its robust position that has been confirmed once again by the latest figures. I would expressly like to thank him for his achievements and wish him all the best for the future. Arno Antlitz is an excellent successor, distinguished not only by his strategic and analytical vision, but also by his financial expertise. He will play his part in steering the Volkswagen Group through the transformation with a steady hand,' Hans Dieter Pötsch, Chairman of the Supervisory Board, said.