Volkswagen fires top executives at troubled software subsidiary amid new-model delays
Top executives at Cariad – the Volkswagen Group’s software company, which has been attributed to delays in the introduction of new electric cars – have been fired in a management shake-up.
Three top executives have been fired from Cariad – the Volkswagen Group’s autonomous-driving and infotainment software company – after it has been attributed to long delays of key new electric cars.
Peter Bosch – the current Production Director at VW Group subsidiary Bentley – will replace Dirk Hilgenberg as CEO, with the aim of expediting software and electric motor developments at the German car giant after recent delays on key models such as the new Porsche Macan and Audi Q6 E-Tron electric SUVs.
These vehicles – in the popular mid-size SUV class – were due to be unveiled and introduced last year, but have since been pushed back to the end of this year, or 2024.
Cariad Chief Technology Officer, Lynn Longo and Chief Financial Officer, Thomas Sedran will also vacate their positions, the Volkswagen Group confirmed in a statement to the media.
Effective 1 June 2023, Mr Bosch will become the CEO of Cariad, and will also oversee the Finance, Procurement, and IT departments of the Volkswagen Group’s software division as a “super-board member,” taking on many of Ms Longo’s and Mr Sedran’s responsibilities.
Cariad’s existing ‘Chief People Officer’ – Rainer Zugehör – will remain in his position.
“Peter Bosch is the right CEO at the right time,” Volkswagen Group CEO and Chairman of the Cariad Supervisory Board, Oliver Blume, said in a media statement.
“He is a strategist, executor, and team player, as he has proven during his successful tenure at Bentley. He has a strong understanding of the Volkswagen Group and possesses comprehensive experience in change management and consulting.”
The Volkswagen Group has confirmed Mr Bosch will be supported by two new software experts on the board of directors. However, it is yet to name them.
In making the announcement, Mr Blume emphasised that Cariad – established in 2020 – will “continue to be open to partnerships.”
Recent media reports have suggested the Volkswagen Group is close to announcing a partnership with MobileEye – a software company owned by computer chip giant Intel – in the field of autonomous driving, following the disbandment of VW’s Argo AI joint venture with Ford.
This was not touched on in the media statement but insiders have told US publication Wards Auto that discussions between the two companies are ongoing.
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