Press Release

30. Oktober 2020

Volkswagen Leasing expands management board – Frank-Michael Czarnetzki responsible in future for Truck & Bus business

Merger of Volkswagen Leasing and MAN Financial Services  

Braunschweig, Munich, 1 September 2020. Europe's largest leasing company, Volkswagen Leasing GmbH, is augmenting its management board with the addition of Frank-Michael Czarnetzki (52). Czarnetzki will be responsible for the Truck & Bus business at the wholly-owned subsidiary of Volkswagen Financial Services AG with effect from 01.09.2020. In his new function he will report to Jens Legenbauer, the Chairman of the Management Board of Volkswagen Leasing GmbH. This measure is in part a consequence of the merger of MAN Financial Services GmbH (MAN FS GmbH) with Volkswagen Leasing GmbH.
Czarnetzki was born in Braunschweig and has headed MAN Financial Services GmbH in Munich as Chairman of the Management Board since 01.01.2018. Prior to that, he held numerous international management positions at Volkswagen Financial Services. For example, he served in different capacities and with various responsibilities in the national subsidiaries of Volkswagen Financial Services in South Korea, Australia and Singapore.
Frank-Michael Czarnetzki is a qualified banking specialist and holds a Bachelor of Economics from the Frankfurt School of Finance & Management. He is married and has two children.

Jens Legenbauer, Chairman of the Management Board of Volkswagen Leasing GmbH, is convinced: "Many customers of MAN Financial Services are at the same time customers of Volkswagen Leasing. The merger enables us to offer our customers a comprehensive portfolio of financial services, covering small cars and motorcycles to heavy-duty trucks or coaches and buses, while at the same time leveraging cost and investment synergies." MAN FS remains a competent partner for the truck and bus business as a branch of Volkswagen Leasing GmbH in Munich. "As a result, Braunschweig is the Financial Services competence center for the passenger car and motorcycle world, and Munich for the entire MAN and NEOPLAN product range," Legenbauer added.

As of 01.09.2020, the Management Board of Volkswagen Leasing therefore comprises Jens Legenbauer (Chairman), Hendrik Eggers (Finance/Back Office) and Frank-Michael Czarnetzki (Truck & Bus). Armin Villinger is responsible for Sales Germany as Chief Representative.
Information for editors

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania brand and Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers. Volkswagen Financial Services have a total of 16,571 employees worldwide – including 7,414 alone in Germany. Volkswagen Financial Services report total assets of around EUR 223.5 billion, an operating result of EUR 2.96 billion and a portfolio of around 21.5 million current contracts (as at: 31.12.2019).

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