BMW executive Duesmann joining German rival Volkswagen
Volkswagen AG says Markus Duesmann is joining its management board from German competitor BMW. It isn't confirming a German newspaper report that the plan is for him to become CEO of the automaker's Audi unit.
Volkswagen said its supervisory board offered a job to Duesmann, currently the BMW board member overseeing that company's purchasing and supplier network.
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It said in a statement Tuesday he "will take up his new position as soon as he is able to do so. An agreement to this effect has already been signed."
VW didn't say what exactly Duesmann's job will be. German business daily Handelsblatt, citing unnamed company sources, reported that he is slated to become Audi's new boss.
Audi CEO Rupert Stadler was arrested last month in an investigation of suspected fraud.
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