Siegfried Wolf becomes head of the supervisory board at Vitesco

Siegfried Wolf becomes head of the supervisory board at Vitesco
Siegfried Wolf becomes head of the supervisory board at Vitesco

The buyer of the MAN plant in Steyr, Siegfried Wolf, becomes chairman of the supervisory board of the German automotive supplier Vitesco. The 63-year-old Styrian investor was unanimously elected chairman of the committee at the beginning of the week, the company announced on Wednesday.

The drive technology manufacturer Vitesco, which was spun off from the second largest German automotive supplier Continental, was only recently valued at 2.4 billion euros when it went public. The first price for the shares on the Frankfurt Stock Exchange, which was determined on September 16, 2021, was 59.80 euros. Conti had distributed a good 40 million Vitesco shares to its own shareholders – above all the Franconian entrepreneurial family Schaeffler – one each for five Conti papers.

Vitesco Technologies Group AG develops and produces components for electric, hybrid and internal combustion drives and, according to its own information, achieved sales revenues of EUR 8 billion in 2020. 40,000 employees work for the group at 50 locations worldwide. The company is based in Regensburg.

Orientation towards e-mobility

“We will support the company’s consistent focus on e-mobility and further development as a listed company,” announced Wolf.

The Steyr Automotive owner has been appointed by Vitesco until the first ordinary general meeting. At the shareholders’ meeting in May 2022, Wolf will stand for election, the company announcement said. Deputy Chairman of the Supervisory Board is Ralf Schamel from the employee side.


Siegfried Wolf supervisory board Vitesco

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