Friday, August 05, 2005

Pischetsrieder to conduct business of Human Resources Department effective 5 August

Text from Volkswagen AG.
Wolfsburg, 05 August 2005 - Dr. Peter Hartz, Labour Director and Member of the Board of Management of Volkswagen AG, will retire with end of 4 August 2005. Dr. Bernd Pischetsrieder, Chairman of the Board of Management of Volkswagen AG, will assume the function of Labour Director and conduct the business of the Human Resources Department in a temporary capacity until further notice.


Hartz had completed all preparations for the orderly transfer of responsibility for Human Resources to Pischetsrieder by this date. No decision on a successor has yet been taken. The Presidium of the Supervisory Board requested Pischetsrieder to assume the function of Labour Director until such time as a new Labour Director has been appointed, and to conduct the business of the Human Resources Department in a temporary capacity.

Hartz tendered his resignation to the Supervisory Board, thus assuming political responsibility for irregularities in his area of responsibility. The Supervisory Board accepted the offer of resignation, and 63-year old Hartz will now take retirement.

“The Board of Management and the Supervisory Board would like to thank Peter Hartz for his service to the development of our company over the last twelve years.” With these words, the Corporation paid tribute to the achievements of the long-standing Board Member for Human Resources. Hartz has been a member of the Board of Management of Volkswagen AG and Labour Director since 1 October 1993. Numerous innovations in personnel policy, such as a considerable expansion in working time flexibility and the tariff model for Auto 5000 GmbH, were introduced during his term of office.

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