Susanne Wiegand, the former CEO of defense supplier Renk, surprisingly resigned from Volkswagen's supervisory board, declining to stand for re-election at the annual general meeting. Her departure was announced by Supervisory Board Chairman Hans Dieter Pötsch, who stated that Wiegand had informed the board on Wednesday that she would no longer be available as a candidate.
Wiegand, aged 54, confirmed her decision to a German financial newspaper, citing a careful consideration of "overall circumstances" for her choice not to seek another term. This unexpected move means she will exit the supervisory board immediately following the conclusion of the general meeting.
Her withdrawal has prompted Volkswagen's nomination committee to convene "promptly" to discuss her succession, although no timeline has been provided for finding a replacement. The news was initially reported by "Spiegel" and "Manager Magazin."
This development comes amidst existing scrutiny of Volkswagen's corporate governance, which has previously drawn criticism. Wiegand's departure further emphasizes these ongoing concerns.
