Volkswagen Truck Unit Taps M&A Expert as New Finance Chief
June 15 2018 - 5:34AM
Dow Jones News
By Max Bernhard
Volkswagen AG's (VOW.XE) truck and bus unit said Friday that it
has appointed its head of corporate development, strategy and
M&A, Christian Schulz, as its new finance chief, ahead of a
potential initial public offering and acquisition.
Mr. Schulz, a former Daimler AG (DAI.XE) manager, replaces
Matthias Gruendler, who left the company last month.
The decision comes at a time when the unit is getting ready for
a potential IPO and speculation that it could launch a full
takeover of U.S. truck maker Navistar International Corp. (NAV), in
which it already holds a stake of nearly 17%.
Mr. Schulz played a crucial role in advancing the unit's
partnership with Navistar and Japan's Hino Motors Ltd and has also
been responsible for getting the unit ready for a potential
listing, Volkswagen Truck & Bus said.
Mr. Schulz joined Volkswagen Truck & Bus in January 2017. He
previously oversaw controlling operations at Daimler's
Mercedes-Benz.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
June 15, 2018 05:19 ET (09:19 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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