VW is luring Andreas Renschler through large recruitment budget

Article by Anita Panait, on February 2, 2014

Volkswagen Group is trying to lure in former Mercedes-Benz production chief Andreas Renschler to head its trucks businesses by offering him a significant budget to recruit more people to push integration among its three commercial vehicles brands, sources told Bloomberg.

Two people familiar with the matter said that VW wants Renschler to succeed current trucks chief Leif Oestling as early as this year as he had an oversight over Daimler's truck business for almost nine years.

He was in charge of managing the division's investments in emerging markets like Russia and India before becoming Mercedes production head in April 2013. Daimler recently disclosed that Renschler was leaving the carmaker "for personal reasons" with immediate effect.

VW particularly wants Renschler because of his extensive experience in Daimler's truck unit, as it seeks to achieve cost savings via closer collaboration among the Scania, MAN and VW commercial-vehicles nameplates.

"It would be positive for VW to hire a successful executive from the largest truck manufacturer," Frank Schwope, an analyst at NordLB told Bloomberg. "As an external candidate, he's also less involved in any internal sensitivities between Scania and MAN." Legal advisers are seeking to minimize the non-compete period in Renschler's contract, claiming that the position VW is offering would not render him as direct competitor with Mercedes-Benz, one person said.

Daimler chief executive Dieter Zetsche has said that Renschler would not be permitted to move to a rival for the "foreseeable future." "Generally our executives have a lock-up period that bars them from working for a competitor for a certain period of time," Daimler spokesman Joerg Howe said, adding that the period is typically runs for six or 12 months."

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