Change in PowerCo’s Executive Board
Teichmann is leaving PowerCo, but not Volkswagen: he is to take on a new role within the Volkswagen Group, according to a statement from the Group headquarters. His future responsibilities and whether he will move to one of the Group’s brands or to headquarters have not yet been announced. Teichmann has been building up the procurement department at PowerCo SE since 2022 and was one of the first members of the Executive Board.
The new PowerCo board member, Alexander Schmitt, previously worked for the London-based mining company Anglo-American, among others. He will also contribute his expertise in raw materials to the VW battery subsidiary: as Chief Procurement Officer at PowerCo, he will be responsible for the entire procurement of raw materials, components and machinery, as well as supplier management and value engineering.
“With Alexander Schmitt, we have been able to win an absolute top expert in the raw materials sector. He has many years of international experience in the raw materials business and knows the industry in every detail. Under his leadership, we will continue to expand and strengthen PowerCo’s global supplier network,” says Thomas Schmall, Head of Volkswagen Group Components and Chairman of the Supervisory Board of PowerCo SE. “At the same time, I would like to thank Jörg Teichmann. He has fundamentally built up the procurement department and established PowerCo as a relevant player in the global raw materials business. By establishing a complete battery supply chain from mine to cell, he has played a key role in shaping PowerCo’s ramp-up phase and laid a key foundation for the company’s long-term success.”
This article was first published by Sebastian Schaal for electrive’s German edition.
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