2025 ahead ayondo Franchise coming soon
Happy 
xMas Holidays
xMas Holidays
xMas Holidays
|
DGAP-News: Vitesco Technologies Group AG
/ Key word(s): Miscellaneous/Strategic Company Decision
Vitesco Technologies plans organizational changes to sharpen focus on electrification - Supervisory Board approves organizational changes slated - Plans envisage a reorganization in two divisions with a clear focus on the electrification business - Objectives: a fast and flexible response to market challenges, optimum resource utilization, and a consistently sustainable approach
Through these organizational changes, which are slated to take effect on January 1, 2023, Vitesco Technologies is aiming to further sharpen its strategic focus on powertrain electrification, in order to boost the effectiveness, efficiency, and flexibility of its operations in the market for sustainable mobility technologies. The clear focus on growth and value creation associated with the reorganization also creates a more transparent structure, enables even better use of resources in line with ongoing and accelerating change, and takes account of the company's ambitious sustainability agenda. "Vitesco Technologies is aiming to become a global powerhouse in the field of electrification. Recent incoming orders have endorsed our consistent approach in this respect," says Andreas Wolf, CEO of Vitesco Technologies. "The planned organizational changes are a logical next step in the context of the objectives we defined in our DIRECTION 2030 strategy. We are convinced that the two strong divisions we are creating through these structural changes will be able to react faster and more efficiently to the challenges of the marketplace. The new structures will not only provide us with the perfect opportunity to ensure both, growth and add value, at Vitesco Technologies, they will also help safeguard our competitiveness." With well over ten years of experience in the development and manufacture of electric drive systems, the company has focused on electromobility as early and decisively as almost no other automotive supplier. Vitesco Technologies already set the course for a clear electrification strategy in 2019. The stock market listing followed on September 16, 2021, and the company was then admitted to the SDAX at the end of the year. "The planned organizational changes are designed to let us make targeted use of our resources and enable closer collaboration between our experts," says Ingo Holstein, CHRO of Vitesco Technologies. "This is not a case of restructuring designed to reduce the size of the workforce. On the contrary, this is all about positioning Vitesco Technologies with its expertise and its people in the best possible way to meet the requirements of the future." Contact for journalists Simone Geldhäuser Press portal https://www.vitesco-technologies.com/en-us/press Social media www.linkedin.com/company/vitesco-technologies www.facebook.com/VitescoTechnologies www.instagram.com/vitesco_technologies
22.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Vitesco Technologies Group AG |
| Siemensstraße 12 | |
| 93055 Regensburg | |
| Germany | |
| Phone: | +49 941 2031 0 |
| E-mail: | ir@vitesco.com |
| Internet: | www.vitesco-technologies.com |
| ISIN: | DE000VTSC017 |
| WKN: | VTSC01 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1308707 |
| End of News | DGAP News Service |
|
|
1308707 22.03.2022
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.
