HANOVER, Germany — Karl-Thomas Neumann, former chief executive of Continental AG, will head Volkswagen’s China operations starting in September.
The news sees Neumann, an experienced and respected manager, electronics engineer and expert in hybrid and electric cars, return to his previous employer after leaving Conti in the midst of a power struggle with major shareholder Schaeffler Group last August.
AFX reported that VW CEO Martin Winterkorn is “a big admirer of Neumann’s ability and offered him a job as head of electric propulsion in November, by which time VW had already signed up to three different partnerships.” He is also said to be “a possible contender to succeed Winterkorn” if he can make the jump to the management board. (Article courtesy of Tire Review/Tyres & Accessories)