Spin-off Aumovio's Board Nearly Set, CFO Search Continues
Restructuring move: Majority of Aumovio's board set for new division
Things are heating up at Aumovio SE as the independent automotive spin-off's board is almost ready to roll. On Thursday, the company announced that four more bigwigs have joined the team, leaving only the position of the Chief Financial Officer (CFO) unfilled. Until a suitable candidate steps up, CEO Philipp von Hirschheydt will dip his toes into the CFO waters on a temporary basis.
Back in March, we knew von Hirschheydt would steer the ship as Aumovio's CEO1. Alongside him, Ingo Holstein is set to lead the Human Relations division, while Boris Mergell will helm the Safety and Motion business field and manage the Aftermarket business, including goodies like brake pads, batteries, and sensors.
Joining this powerhouse team are Jean-François Tarabbia (Architecture and Network Solutions) and Ismail Dagli (Autonomous Mobility). These guys were previously at the helms of their respective business fields. They bring more than two decades of automotive industry experience to the table2. As of December 31, 2024, Aumovio SE boasts over 92,000 employees and raked in around €19.6 billion in the 2024 financial year3.
CFO Search: A Tough Nut to Crack
Initially, economist, tax advisor, and auditor Karin Dohm was poised to snag the CFO role, stepping into the position on April 1 as Head of Finance & Controlling for the auto division. However, a health concern forced her to hang up the CFO mantle in late May2. Dohm, aged 53, had to bow out due to a serious illness.
Aumovio SE is gearing up to make its public debut as an independent company in September. But before that, the company will meet investors on June 24 to share short- and medium-term goals[4]. We already know that Aumovio will have €1.5 billion in liquidity until the spin-off, and the operating business will be financed with a €2.5 billion loan[4].
[4]: https://www.reuters.com/business/autos-transportation/continental-to-present-future-aumovio-plans- investors-2022-06-10/
- The search for a suitable Chief Financial Officer (CFO) continues at Aumovio SE, with the industry veteran Philipp von Hirschheydt temporarily filling the position.
- With over €2.5 billion in loan financing secured, the independent automotive spin-off Aumovio SE is preparing to present short- and medium-term goals to investors before its public debut later this year.
- Finance, transportation, and the automotive business will play crucial roles in Aumovio SE's future operations, as it brings in more than €19.6 billion in revenue and boasts over 92,000 employees, according to financial reports from 2024.
