Proposed changes in Scanias Board of Directors
The fact that Volkswagen AG has become a new owner of Scania, with 34.0 percent of the voting power of all shares and 18.7 percent of the share capital, will lead to changes in the composition of the Board. Mauritz Sahlin, Anders Scharp and Björn Svedberg will be leaving Scania’s Board of Directors in conjunction with this year’s Annual General Meeting. Mr. Scharp has been Chairman of the company since Scania became independent in the mid-1990s.
In preparation for the election of the Board at the Annual General Meeting of Scania AB (publ) on Wednesday, 24 May 2000, shareholders together representing more than 50 percent of the voting power of all shares in the company have announced that they will propose that Ferdinand Piëch, Lothar Sander and Detlef Wittig be elected as new Directors, and that Peggy Bruzelius, Clas Åke Hedström, Cees van Lede, Rolf Stomberg, Marcus Wallenberg and Leif Östling be re-elected as Directors.
Background, proposed new members of the Board
Dr. Ferdinand Piëch was born in 1937. Since 1993, he has been Chairman of the Board of Management (Chief Executive Officer) of Volkswagen AG in Germany. Since 1995, he has also been in charge of the company’s Research and Development. During the years 1963 to 1972, Dr. Piëch held various technical positions at Porsche. From 1972 to 1992 he worked at Audi, and in 1988 he was appointed Chairman of Audi. In 1992 he also became a member of the Board of Management of Volkswagen AG.
Lothar Sander was born in 1950 and has been a member of the Board of Management, Volkswagen Division, since 1995, in charge of Controlling and Accounting. Mr. Sander has been employed by Volkswagen since 1977. During the years 1981 to 1993 he worked at Audi in Ingolstadt, among other things as head of finance and accounting, returning in 1993 to Volkswagen in Wolfsburg as manager in charge of the Group General Secretariat.
Detlef Wittig was born in 1942. Since 1997 he has been Deputy Chairman of the Board of Management of Škoda Auto a.s. and in charge of Finance and Commercial, Sales and Marketing. Mr. Wittig joined Volkswagen AG in 1968 and subsequently held a number of leading positions in Sales, Marketing and Finance.