Bulletin
Investor Alert

New York Markets Close in:

June 15, 2018, 5:22 a.m. EDT

Volkswagen truck unit names new CFO

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. (NYS: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.

Link to MarketWatch's Slice.