Ex Conti Boss Neumann to Head VW China
Karl-Thomas Neumann, the former chief executive of Continental AG, will head Volkswagen's China operations from 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 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.
In this respect Neumann’s latest job is being touted as a possible stepping stone to the board after it was announced that Winfried Vahland, who took over as head of China in July 2005, is taking up the post of Skoda CEO in September. China is reportedly VW group’s single largest market and a key source of growth.
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