German powertrain major Vitesco Technologies has announced the appointment of Sabine Nitzsche as its new Chief Financial Officer (CFO) effective November 1, 2023.
She succeeds Werner Volz, who assumed the role as MD and CFO in the course of the carve-out (January 1, 2019) and spin-off with consecutive listing (March 9, 2021) of the former Continental division Powertrain and later Vitesco Technologies Group, who will enter retirement. Both will share the month of October to guarantee a flawless transfer.
Nitzsche started her professional career at Infineon in 1994 and has worked through several operational functions in procurement as well as in project management before gaining experience in the Advanced Mask Technology Center (development and manufacturing of photolithography masks) in 2003, first in financial strategic business and later as director business administration.
In 2011, she joined Globalfoundries (US-based global semiconductor solutions contract manufacturer), where she took over the CFO position for the EMEA division in 2018 after seven years of financial divisional management. In 2021, she joined Infineon as the CFO for the Automotive business segment.
Andreas Wolf, CEO, Vitesco Technologies said, “On behalf of the Executive Board and the global Vitesco Technologies team, I would like to thank Werner Volz for his many years of extraordinary commitment and valuable contribution at the helm of our company, whose financial management he took over during a challenging business phase and has always driven forward meticulously and extremely successfully since the spin-off with subsequent stock listing.”
Professor Siegfried Wolf, Chairman of the Vitesco Technologies Supervisory Board added, “He deserves our praise and appreciation for the always trusting and collegial cooperation over the past years. In particular, I would like to pay special tribute to Werner Volz for his achievements in connection with the spin-off of Vitesco Technologies, the securing of a financing base for the coming years and the creation of a distinct cost culture in the company.”
“Together we have made the company independent and taken it public. The past years have been intense and challenging, but at the same time a great and always fulfilling experience for me – both individually and as part of a team. Now I am looking forward to my next, very private, phase in life and wish Vitesco Technologies continued success,” closed Werner Volz.
