The Board of Management and Supervisory Board of Volkswagen Aktiengesellschaft have resolved to extensively revise the Group’s management structure. Volkswagen is thus systematically continuing to transform its business and establishing even more efficient Group management in a phase of highly dynamic change in the Company and the entire automotive industry. In order to sustainably implement the new structure, there will be a number of changes on the Board of Management. Matthias Müller steps down as Chairman of the Board of Management by mutual agreement, effective immediately. At its meeting on Thursday, the Supervisory Board appointed Dr. Herbert Diess as his successor. Chairman of the Supervisory Board Hans Dieter Pötsch expressly thanked Müller for his dedication: “Matthias Müller has done outstanding work for the Volkswagen Group. He assumed the chairmanship of the Board of Management in the fall of 2015 when the Company faced the greatest challenge in its history. Not only