Vitesco Technologies Group AG: Sabine Nitzsche Named New Chief Financial Officer

Sabine Nitzsche Named New Chief Financial Officer

• Sabine Nitzsche appointed as new chief financial officer by the Supervisory Board with effect from November 1, 2023
• Professor Siegfried Wolf, chairman of the Vitesco Technologies Supervisory Board: “With Sabine Nitzsche, we have appointed a very successful and recognized manager to head the financial resort.”
• Andreas Wolf, CEO Vitesco Technologies: “I am looking forward to working with Sabine Nitzsche.”
• Gratitude, accolades, and recognition for outgoing Executive Board member Werner Volz

Regensburg, Germany, April 26, 2023. At its meeting today, the Supervisory Board of Vitesco Technologies Group AG appointed Sabine Nitzsche (50) as new chief financial officer with effect from November 1, 2023.

Sabine Nitzsche succeeds Werner Volz (64), who assumed the role as managing director and chief financial officer in the course of the carve-out (January 1, 2019) and spin-off with consecutive listing (March 9, 2021) of the former Continental division Powertrain and later Vitesco Technologies Group AG and will enter into his well-deserved retirement. Both will share the month of October to guarantee a flawless transfer.

“With Sabine Nitzsche, we have appointed a very successful and recognized manager to head the financial resort. The Supervisory Board wishes her all the best and every success in her new role,” said Professor Siegfried Wolf, chairman of the Vitesco Technologies Supervisory Board.

“I am looking forward to working with Sabine Nitzsche,” said CEO Andreas Wolf adding: “On behalf of the whole Executive Board, I want to warmly welcome her to Vitesco Technologies. We are convinced that with her broad professional experience, she will be successful as head of finance.”

Sabine Nitzsche started her professional career at Infineon in 1994. She passed through several operational functions in procurement as well as in project management before gaining experience in the Advanced Mask Technology Center (development and manufacturing of photolithography masks) in 2003, first in financial strategic business and later as director business administration. In 2011, her career path led her to Globalfoundries (US-based global semiconductor solutions contract manufacturer), where she took over the CFO position for the EMEA division in 2018 after seven years of financial divisional management. Finally, her path led back to Infineon in 2021, then in the role of CFO for the Automotive business segment.

On the occasion of today’s meeting, both the Supervisory Board and the Executive Board also paid final tribute to the outstanding achievements of the outgoing Executive Board member Werner Volz.

"On behalf of the Executive Board and the global Vitesco Technologies team, I would like to thank him for his many years of extraordinary commitment and valuable contribution at the helm of our company, whose financial management he took over during a challenging business phase and has always driven forward meticulously and extremely successfully since the spin-off with subsequent stock listing. I greatly appreciate that he will continue to be available to us with his knowledge and experience until the end of October and thus until the end of the third quarter”, Andreas Wolf said.

Professor Wolf adding: "He deserves our praise and appreciation for the always trusting and collegial cooperation over the past years. In particular, I would like to pay special tribute to Mr. Volz for his achievements in connection with the spin-off of Vitesco Technologies, the securing of a financing base for the coming years and the creation of a distinct cost culture in the company."

"Vitesco Technologies is a great company with excellent prospects for the future. Together we have made the company independent and taken it public. The past years have been intense and challenging, but at the same time a great and always fulfilling experience for me - both individually and as part of a team. Now I am looking forward to my next, very private, phase in life and wish Vitesco Technologies continued success,” Werner Volz closed.
 

Vitesco Technologies is a leading international developer and manufacturer of cutting-edge drive systems for sustainable mobility. With intelligent system solutions and components for electric, hybrid, and internal combustion drive systems, Vitesco Technologies is making mobility clean, efficient, and affordable. The product portfolio includes electric drives, electronic controls, sensors and actuators, and exhaust gas treatment solutions. In 2022, Vitesco Technologies generated sales of around €9.07 billion and employs a workforce of around 38,000 employees at 50 locations. Vitesco Technologies is headquartered in Regensburg, Germany.

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