Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

BMW executive Markus Duesmann tasked with reviving Audi

Published 15/11/2019, 16:40
© Reuters. BMW annual news conference in Munich
BMWG
-
VOWG_p
-

FRANKFURT (Reuters) - Volkswagen (DE:VOWG_p) on Friday installed former BMW (DE:BMWG) executive Markus Duesmann to reinvent Audi (DE:NSUG) after the German premium brand lost key engineering know-how and influence in the wake of the 2015 diesel-cheating scandal.

Duesmann will become chief executive of Audi as well as take on board level responsibility for research and development at Volkswagen Group on April 1 next year, the Wolfsburg-based multi-brand group said on Friday.

Duesmann's job will include injecting new meaning into the company's advertising slogan "Vorsprung Durch Technik", or "advancement through technology", after Audi fired a raft of senior engineers in the wake of the diesel scandal.

"Markus Duesmann will do everything to unlock the huge potential of the Audi brand," Volkswagen Group Chief Executive Herbert Diess said at a press conference in Wolfsburg on Friday.

Audi, based in Ingolstadt, Bavaria was a major research and development hub within Volkswagen, setting standards in aerodynamic efficiency, lightweight aluminium construction, dual-clutch gearbox technology and four-wheel drive systems.

But the premium brand struggled after it was discovered that engine management software, used to manipulate exhaust emissions tests at VW, was designed by Audi engineers, leading to the firing of engineering chiefs and its long-term CEO.

After Audi chief Rupert Stadler was dismissed, Audi installed a sales expert, Bram Schot has interim CEO, and the brand struggled to redefine "Vorsprung durch Technik."

"We need to partly refine the 'Vorsprung'. We are working on it," Audi's sales chief Hildegard Wortmann told Reuters at the Frankfurt car show in September.

"We don't need little 'Vorsprung' stories, we need real 'Vorsprung' stories," Audi's current head of research and development, Hans-Joachim Rothenpieler told Reuters.

Audi's electric car e-tron as well as fuel cell technology are two pillars upon which Audi can resurrect its brand claim, Rothenpieler said.

© Reuters. BMW annual news conference in Munich

Audi's works council chief, Peter Mosch, welcomed the appointment of an external manager. "From Markus Duesmann and his team we expect the stable utilisation of our factories and a more courageous approach."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.