Press Release

Braunschweig, 22 September 2022. A change will be taking place on the Management Board of Volkswagen Financial Services AG (VWFS): Dr. Mario Daberkow, Member of the Management Board with responsibility for Information Technology and Processes, has decided not to extend his contract. He will leave the Management Board of the financial and mobility services provider on 1 July 2023. "After ten years on the Management Board of VW FS and a similar length of time on the Management Board of Postbank before that, I am grateful for the excellent collaboration with the colleagues I have been able to work with and the eventful time I have been able to experience here. But now is the right time for a reorientation," Daberkow said. Dr. Arno Antlitz, Chairman of the Supervisory Board of Volkswagen Financial Services AG as well as CFO and COO of Volkswagen AG, thanked Dr. Daberkow for his commitment to the company: "During almost the last ten years, Dr. Daberkow has made a major contribution to the success of our financial services division and has led Volkswagen Financial Services into a modern IT world. We respect his decision to seek a new professional challenge."

During his time at Volkswagen's financial services provider, Daberkow, who holds a doctorate in mathematics, transformed IT into a global organization. His activities at the company focused on the employees, on the development of a global platform for the business model, and on the far-reaching digitalization of Volkswagen Financial Services. This transformation was accompanied by various successful large-scale projects. His commitment also extended beyond the boundaries of the company. For many years Daberkow promoted and actively supported computer science training in schools in Germany.

Before moving to Braunschweig, Daberkow was a Member of the Management Board of Deutsche Postbank AG and responsible for IT and Operations. Daberkow started his career as a research assistant at the Technical University of Berlin. After spending some time with McKinsey, he joined Deutsche Postbank as Head of Bank Organization in 2002. Daberkow was appointed Member of the Board of Management there in 2005.

A decision on his successor as Board Member for IT will be made in the near future.

Information for editors:

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial service business of the Scania brand and of Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, bank and insurance activities, fleet management and mobility services. Volkswagen Financial Services have a total of 16,849 employees worldwide – including 7,570 alone in Germany. Volkswagen Financial Services report total assets of around EUR 235.6 billion, an operating result of EUR 5.67 billion, and a portfolio of around 22.0 million current contracts (as at: 31.12.2021).