Press Release

Dr. Ingrun-Ulla Bartölke, Chairwoman of the Supervisory Board of Volkswagen Bank GmbH, said: "With Michael Reinhart, a top manager of the Volkswagen Financial Services Group is ending his highly successful professional career after more than 18 years. As Chairman of the Management Board of Volkswagen Bank, he has assumed responsibility at the highest level on a lasting basis and has played a key role in shaping the company and its success. The Supervisory Board is particularly pleased that, in Volker Stadler, a successor has been found from the existing group of managing directors, thus ensuring a continuity of personnel in this extremely important position."

Dr. Christian Dahlheim, Chairman of the Management Board of Volkswagen Financial Services AG and Member of the Supervisory Board of Volkswagen Bank GmbH, added: "We would like to express our deep and heartfelt thanks to Michael Reinhart for his highly successful work, in particular in his capacity as Management Board member responsible for Risk Management at VW FS for many years, and we wish him all the best for the new chapter of life that follows. He has more than earned this time! At the same time, we are delighted that Volker Stadler will now be taking on new responsibility for repositioning Volkswagen Bank as part of the VW FS MOBILITY2030 strategy."

Dr. Volker Stadler was born in Fulda in central Germany, is married and has two children. After graduating with a doctorate in computer and information science, Dr. Stadler began his professional career at McKinsey in Switzerland. Following various management positions at Postbank and Deutsche Bank, Dr. Stadler joined Volkswagen Financial Services AG in 2014 as a department head in IT. He has been a Member of the Management Board of Volkswagen Bank since 2017 and also a Member of the Management Board of Volkswagen Financial Services Digital Solutions since 2020.

Dr. Michael Reinhart joined Volkswagen Financial Services AG as Chief Representative in 2005 – after holding various positions at Bayrische Vereinsbank/HypoVereinsbank and DG Bank – and was the Member of the Management Board responsible for Risk Management and Back Office from 2006 to 2017. He was born in Würzburg in northern Bavaria and has held the post of Chairman of the Management Board of Volkswagen Bank GmbH since 2017. Dr. Reinhart served for many years on the Supervisory Board of the Basketball Löwen (Lions) Braunschweig club and has made a defining contribution to shaping the new VWFS program to fund and promote young sports talent from Lower Saxony.

As of 1 July 2023, the Management Board of Volkswagen Bank will comprise: Dr. Volker Stadler (Chairman), Christian Löbke and Oliver Roes. 

Volkswagen Bank GmbH, which was founded in 1949, is currently a wholly owned subsidiary of Volkswagen AG and will become a subsidiary of Volkswagen Financial Services AG in the summer of 2024 as part of a reorganization of corporate structure. The products and services of Volkswagen Bank range from the financing of new and used vehicles of all the Group’s brands to direct banking and dealer financing. Volkswagen Bank is today the leading automotive bank in Europe. As measured by its volume of deposits totaling more than EUR 26 billion, Volkswagen Bank direct, a division of Volkswagen Bank, is one of the largest direct banks in Germany.

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 17,713 employees worldwide – including 7,692 alone in Germany. Volkswagen Financial Services report total assets of around EUR 240 billion, an operating profit of EUR 5.60 billion, and a portfolio of around 22.0 million current contracts (as at: 31.12.2022).