The Volkswagen Group appoints a new chief executive officer for Cariad, its struggling software subsidiary.
Peter Bosch, the current production director at VW Group’s Bentley brand, will replace Dirk Hilgenberg, with the aim of expediting software and electric drivetrain developments at the German automaker. The move follows recent delays with key models such as the Porsche Macan EV and Audi Q6 e-tron.
Additionally, Cariad's chief technology officer, Lynn Longo, and chief financial officer, Thomas Sedran, will vacate their positions, VW Group confirms in a statement to the media.
Effective June 1, Bosch (pictured, left) will become CEO of Cariad. He will also oversee the finance, procurement, and IT departments of the Group's software division in his capacity as a “super-board member,” taking on many of Longo’s and Sedran’s responsibilities.
Cariad’s current chief people officer, Rainer Zugehör, will remain in his position.
“Peter Bosch is the right CEO at the right time,” says Oliver Blume, VW Group CEO and chairman of the Cariad supervisory board.
“He is a strategist, executor and team player, as he has proven during his successful tenure at Bentley. He has a strong understanding of the Volkswagen Group and possesses comprehensive experience in change management and consulting.”
The automaker has confirmed Bosch will be supported by two new software experts on the board of directors. However, it is yet to name them.
In making the announcement, Blume emphasizes Cariad will “continue to be open to partnerships.”
Recent media reports have suggested the VW Group is close to announcing a partnership with MobileEye in the field of autonomous driving, following the disbandment of its Argo AI joint venture with Ford. This was not touched on in the media statement, but insiders have told Wards that discussions between the two companies are ongoing.
As well as following through on a strategic realignment of Cariad already instigated by Blume, Bosch is expected to reorganize workflows to accelerate software development and reduce costs at the Wolfsburg, Germany-based software division established in 2020.