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VW Credit Names Andrew Stuart President, CEO

September 29, 2011

HERNDON, Va. — VW Credit Inc. (VCI) has appointed Andrew Stuart president and CEO. The move will become effective in January 2012.

Stuart will report to Frank Witter, chairman of the board of directors for VCI, and will succeed Kevin Kelly, current president and CEO. He will retire in January.

Stuart has served as executive vice president and CFO for VCI since 2008 and brings more than 20 years of experience in the automotive industry in the United States and Canada. In addition to product management and regional sales management experience with the VW Brand, Stuart has held several leadership roles in VCI, including director, sales and marketing in the United States and Canada. Prior to 2008, Stuart led Bentley Motors Inc. in the U.S. market as CEO from 2004 to 2007.

Kevin Kelly’s career with Volkswagen Group of America spans 34 years, during which he has held several leadership roles, including corporate capital investments manager, assistant plant controller (Sterling Heights) and controller for both the Audi and Volkswagen Brands.

Volker Reichhardt will succeed Stuart as executive vice president and CFO. Reichhardt will join VCI from Volkswagen Financial Services AG, where he currently serves as head of controlling for the International FS Group and leads the corporate strategy office in Braunschweig.

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