BERLIN -- Major changes in management are underway at Robert Bosch, including the departure of CEO Volkmar Denner at the end of the year, according to Automobilwoche, a sister publication of Automotive News Europe.
Denner, who will turn 65 in November, has led the German supplier since 2012 and will remain available to the company in an advisory capacity, the report said.
His contract with Bosch was set to expire in mid-2022. His successor will be 55-year-old Stefan Hartung, who is head of the mobility division, according to the report.
Denner "has made the key decisions for the next few years and now wants to make room for others," a person familiar with the matter told Automobilwoche.
In addition to Denner, Bosch Chief Financial Officer Stefan Asenkerschbaumer, 65, and supervisory board chairman Franz Fehrenbach, 72, will also be leaving the company at the end of the year.