MUNICH -- Robert Bosch has picked its automotive electronics expert as its next CEO. Volkmar Denner will succeed Franz Fehrenbach, who will become supervisory board chairman at the world's largest auto parts supplier. The changes take effect July 1.
Denner, 55, has been head of Bosch's automotive electronics division since 2003 and part of the board of management since 2006.
Fehrenbach, 62, who has been Bosch CEO since 2003, will replace Hermann Scholl as head of the supervisory board. Scholl, 76, will retire after spending 50 years with Bosch.
Denner's rise to CEO contradicts a report last week in German weekly manager magazin that said the 55-year-old head of Bosch's automotive unit, Bernd Bohr, would succeed Fehrenbach.