Volkswagen AG, Traton Announce Corporate Restructuring

Effective July 15, Andreas Renschler is leaving the boards of management for both Volkswagen AG and Traton SE “by best mutual consent,” according to a press release. Renschler will be succeeded as chairman of the board of management of Traton by Matthias Gründler, who was chief financial officer of the company until May 2018.

“Andreas Renschler has made a significant contribution to the successful course taken by Traton,” said Hans Dieter Pötsch, chairman of the supervisory board of Volkswagen AG and Traton SE. “With Matthias Gründler as successor, we were able to acquire one of the most experienced experts in the industry.”

Renschler took over what was then VW Trucks in 2015, coming from rival German truck-maker Daimler. He had left Daimler in 2014 after less than a year of overseeing Mercedes Benz cars and vans.

The Truck & Bus division, which Renschler oversaw, will be taken over by the board of management member responsible for human resources, Gunnar Kilian. Andreas Tostmann, currently a member of the board of management for the Volkswagen Passenger Cars brand with responsibility for production and logistics, will take over for Joachim Drees, who is also leaving Traton. Carsten Intra will take over as CEO of Volkswagen Commercial Vehicles.