Andrew Stuart to Become President and CEO of VW Credit, Inc.

HERNDON, Va., Sept. 27, 2011 /PRNewswire/ -- Andrew Stuart has been appointed President and CEO of VW Credit, Inc., effective January 2012. He will report to Frank Witter who is Chairman of the Board of Directors for VW Credit, Inc. Stuart will succeed Kevin Kelly, 65, the current President and CEO who will retire in January.

Stuart, 44, has been Executive Vice President and CFO for VW Credit, Inc. since 2008 and brings over 20 years of experience in the automotive industry in the U.S. and Canada.  In addition to product management and regional sales management experience with the VW Brand, Stuart has held several leadership roles in VCI, including Director, Sales and Marketing in the U.S. and Canada. Stuart also led Bentley Motors Inc. in the U.S. as CEO from 2004 to 2007.

After 34 years of dedicated service, Kevin Kelly plans to retire.  In his career with Volkswagen Group of America, Kelly has held several key financial planning and controlling leadership roles, including Corporate Capital Investments Manager, Assistant Plant Controller (Sterling Heights), and Controller for both the Audi and Volkswagen Brands.  Most notably is Kelly’s role as head of VW Credit, Inc., where he has spearheaded the growth of the finance company.

With the promotion of Stuart to President and CEO, Volker Reichhardt, 44, will become Executive Vice President and CFO. Reichhardt will join VW Credit, Inc. from Volkswagen Financial Services AG, where he currently serves as Head of Controlling for the International FS Group and leads the Corporate Strategy Office in Braunschweig. Prior to his current roles, Reichhardt had been Assistant to the CEO, Head of Controlling, Risk and IT for Volkswagen Dogus Finansmani in Turkey, and International Fleet Manager for Volkswagen Financial Services AG. Reichhardt will begin his new role on January 1, 2012.

About VW Credit, Inc.

VW Credit, Inc. (VCI), a wholly owned subsidiary of Volkswagen Group of America, Inc. (VWGoA), was founded in 1981 to function as the financial service arm of VWGoA and is affiliated with Audi of America, Inc. and Bentley Motors, Inc. VCI, a captive finance company, services Volkswagen, Audi and Bentley customers, authorized automotive dealers and their affiliated stores as Volkswagen Credit, Audi Financial Services and Bentley Financial Services.  The company provides competitive financial products and services to dealers and their customers in the United States.

About Volkswagen Group of America, Inc.

Volkswagen Group of America, Inc. is a wholly owned subsidiary of Volkswagen AG, the world's third-largest automaker and the largest carmaker in Europe. It houses the U.S. operations of a worldwide family of distinguished and exciting brands including Audi, Bentley, Bugatti, Lamborghini and Volkswagen, as well as VW Credit, Inc. Founded in 1955, the company's headquarters are in Herndon, Va., Volkswagen Group of America brings to the U.S. vehicles that marry the science of engineering and the art of styling, with the goal of offering attractive, safe, and environmentally sound automobiles that are competitive and set world standards in their respective classes. The company has more than 4,000 employees in the United States and sells its vehicles through an 800-strong dealer network.

SOURCE Volkswagen Group of America, Inc.

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