German luxury carmaker Audi on Monday appointed Jürgen Rittersberger as the next chief financial officer, replacing Arno Antlitz who is moving to become group CFO at its parent Volkswagen.

Rittersberger will take over his new role as member of the board for Finance and Legal Affairs in April 2021, the company said in a statement. Before the transition, Antlitz will publish Audi’s 2020 annual financial statement as planned on March 18, Audi added. Antlitz will succeed Frank Witter in Wolfsburg as CFO of the Volkswagen Group in April 2021.

Herbert Diess, chair of the supervisory board of Audi AG, said, “In Jürgen Rittersberger, Audi is gaining an expert in corporate management, control and strategy who is familiar with several Group brands. I greatly value him as a colleague for his strategic and entrepreneurial mindset.”

Rittersberger has been serving as general secretary and senior vice president - group strategy, Volkswagen AG, since September 2018. From 2010 to 2018, he was general secretary and senior vice president - corporate development, Porsche AG. In 2015, Porsche appointed him as general representative. Rittersberger holds a degree in Business Information Technology.

Markus Duesmann, CEO of the board of management of Audi AG, said, “The current transformation is a true feat of planning and management for Audi’s CFO. I also look for high levels of integrity and real team players to join our board of management. That’s why I’m looking forward to welcoming Jürgen Rittersberger. He will fit right into our team, ensuring a seamless continuation of the enjoyable and successful work done by Arno Antlitz.”