Press Release

Braunschweig, July 4, 2024. There have been two changes in the Board of Management of Volkswagen Financial Services AG: Dr. Ingrun-Ulla Bartölke, who was Head of Group Accounting and External Reporting at Volkswagen AG until October 31, 2023, has taken over as Board Member for Finance and Procurement at Volkswagen Financial Services AG with effect from July 1, 2024. Bartölke had been serving as Chief Representative of Volkswagen Bank since November 2023. The previous Chief Financial Officer, Frank Fiedler, has now taken charge of the newly created area of Management Board responsibility for Risk, Tax and Legal Affairs, also with effect from July 1, 2024. The consolidation of the financing and leasing business in Europe in the new structure of Volkswagen Financial Services has led to additional regulatory requirements from the ECB being imposed on the financial services business. These requirements are addressed by the creation of the new Board-level position responsible for Risk, Tax and Legal Affairs.

Dr. Ingrun-Ulla Bartölke began her career at Volkswagen AG in 2000 in Controlling and she has held various management positions in the Group's accounting department since 2007. She has served as Head of Group Accounting and External Reporting since 2010. She was appointed to the Supervisory Board of Volkswagen Bank GmbH in 2017 and took over as Chairwoman in 2021. Born in Wolfsburg, she studied Business Administration at the Friedrich-Alexander University Erlangen-Nürnberg. She then earned her doctorate at the University of Rostock at the Chair of Management in the field of Industrial Economics.

"We are delighted to have Dr. Ingrun-Ulla Bartölke, a proven and highly experienced financial expert from within our company, join our mobility services provider as the head of the finance department," said Dr. Arno Antlitz, Chairman of the Supervisory Board of Volkswagen Financial Services AG and the Chief Operating Officer and Chief Financial Officer of Volkswagen AG.

Dr. Christian Dahlheim, Chairman of the Board of Management of Volkswagen Financial Services AG, is pleased that Ingrun-Ulla Bartölke is already very familiar with the financial and mobility group and said: "She is a great addition to our team. We warmly welcome her to Volkswagen Financial Services in Braunschweig in her new role. At the same time, we are very glad that Frank Fiedler, after his extremely successful and long-standing work as CFO, will now be leading the newly created Management Board department with his wealth of experience and expertise."

Frank Fiedler joined the Volkswagen Group in 1990 as a trainee. From 1996 to 1999, he looked after tax affairs for the Group in Asia and for Financial Services worldwide. He then moved to the executive board of Wolfsburg AG and became a member of the management of AutoVision GmbH in 2001. From September 2005, Fiedler was a member of the Management Board of Volkswagen Commercial Vehicles, before becoming Chief Financial Officer of Volkswagen Financial Services AG in 2008.

As of July 1, 2024, the Board of Management of Volkswagen Financial Services AG comprises the following members: 

Dr. Christian Dahlheim (Chairman of the Board of Management), Dr. Ingrun-Ulla-Bartölke (Finance and Procurement), Dr. Alena Kretzberg (IT und Digital), Frank Fiedler (Risk, Tax and Legal Affairs), and Anthony Bandmann (Sales and Marketing). 

Volkswagen Financial Services AG is a wholly-owned subsidiary of Volkswagen AG and, as part of Volkswagen Group Mobility, manages the European financial and mobility services business. The aim of Volkswagen Financial Services AG is to support the sales of the Volkswagen Group brands and increase customer loyalty. The company is a longstanding partner of the dealership network – as a provider of financial services and as an aide and advisor. Its core products include vehicle leasing and financing, insurance, and other vehicle-related mobility products – both for private customers and for individual commercial customers and fleet customers. Through its subsidiary, Volkswagen Bank GmbH, Volkswagen Financial Services AG is also active in the direct banking sector.

More information available at www.vwfs.com