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    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
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Volkswagen : CEO to step aside at Skoda, Seat - source

04/29/2021 | 11:47am EDT
FILE PHOTO: Presentation of Volkswagen's electric ID.3 pre-production prototype car on the eve of the International Frankfurt Motor Show IAA in Frankfurt

BERLIN (Reuters) - Volkswagen boss Herbert Diess is stepping down as head of the supervisory boards at subsidiaries Seat and Skoda to focus on building up a stronger software-development team, a person familiar with the matter said on Thursday.

Volkswagen declined to comment.

Handelsblatt had reported the news earlier.

At Seat, Diess would be succeeded by current technology head Thomas Schmall and at Skoda by Murat Aksel, head of procurement on the Volkswagen board, the source added.

Volkswagen has been heavily focused on regaining lost ground in the fast-growing field of software-heavy electric cars, where United States and Chinese manufacturers are seen as having a lead.

(Reporting by Jan Schwartz, Thomas Escritt and Christoph Steitz; Editing by Madeline Chambers and Hans Seidenstuecker)


© Reuters 2021
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Financials
Sales 2021 251 B 297 B 297 B
Net income 2021 13 734 M 16 287 M 16 287 M
Net cash 2021 30 791 M 36 515 M 36 515 M
P/E ratio 2021 7,92x
Yield 2021 3,25%
Capitalization 129 B 153 B 153 B
EV / Sales 2021 0,39x
EV / Sales 2022 0,35x
Nbr of Employees 662 653
Free-Float 56,8%
Chart VOLKSWAGEN AG
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Technical analysis trends VOLKSWAGEN AG
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Buy
Mean consensus BUY
Number of Analysts 26
Average target price 275,95 €
Last Close Price 218,40 €
Spread / Highest target 41,9%
Spread / Average Target 26,4%
Spread / Lowest Target -15,3%
EPS Revisions
Managers and Directors
NameTitle
Herbert Diess Chairman-Management Board
Arno Antlitz Chief Financial Officer
Hans Dieter Pötsch Chairman-Supervisory Board
Frank Witter Head-Finance & Information Technology
Kurt Michels Chief Compliance Officer
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