ANDREAS RENSCHLER NAMED BOARD OF MANAGEMENT MEMBER FOR COMMERCIAL VEHICLES AT VOLKSWAGEN GROUP

February 24, 2014 by Volkswagen

Wolfsburg, February 21, 2014 – At its meeting today, the Supervisory Board of Volkswagen Group appointed Andreas Renschler (55) as member of the Board of Management with responsibility for Commercial Vehicles effective February 1, 2015. Renschler will take over from Dr. Leif Östling (68), who will continue to make a significant contribution to the work of the commercial vehicles supervisory bodies in the Volkswagen Group. 'We are very pleased we have been able to recruit Mr. Renschler to join our Company thanks to the initiative and efforts of Mr. Östling. We have found the ideal successor for Mr. Östling when he retires from the Board of Management next year. I am particularly pleased that Mr. Östling has agreed to contribute his experience to our commercial vehicles business in a Supervisory Board capacity once he has stepped down from the Board of Management', Prof. Dr. Ferdinand K. Piëch, Chairman of the Supervisory Board of Volkswagen Group, stated.

Prof. Dr. Martin Winterkorn, CEO of Volkswagen Group, said: 'Mr. Östling has driven the Volkswagen Group's commercial vehicles business further forward in a period of difficult economic conditions. His dedication and commitment to creating an integrated commercial vehicles group will continue in the months ahead. We are delighted to be welcoming such a gifted and experienced manager as Andreas Renschler to our Company.' The Group is thus laying the foundations for the successful continuation of its commercial vehicles business.

Renschler holds degrees in business engineering and business administration. He joined Daimler-Benz AG in 1988 and began setting up the production facility in Tuscaloosa, USA, in 1993. Renschler switched to the corporate headquarters in 1999 where he was responsible for executive management development at the former DaimlerChrysler corporation. He was appointed president of smart GmbH from 1999. Renschler was named member of the Daimler AG Board of Management in 2004, holding responsibility for Daimler Trucks and Daimler Buses until March 2013 and subsequently taking charge of Manufacturing and Procurement at Mercedes-Benz Cars and the Mercedes-Benz Vans business unit from April 2013.