Volkswagen Group has parachuted in a new chief financial officer and executive board member at Ducati. Oliver Stein took over these roles from another German veteran VW manager, André Stoffels, on 1 October. Stoffels had been Ducati CFO since 2015.
Unlike his predecessor, who had a doctorate in mechanical engineering and came from a solid Teutonic automotive technology background, Stein is an economics graduate. He began his career as a professional number-cruncher in the audit and transaction advisory division of now-defunct global accountancy firm Arthur Andersen, serving for six years, before joining VW’s Audi subsidiary in 2003 as managing director of direct retail operations.
Stein subsequently held a variety of increasingly senior managerial positions within the VW empire. Most recently, he became vice-president and CFO at Audi of America in 2009, before returning to Germany in 2012 as head of finance at Audi Sport, the brand’s high-performance car division.
Considering his particular skills set, Stein’s appointment gives credence to a potentially imminent disposal of the Italian motorcycle manufacturer by VW. Ducati’s books will require burnishing prior to the due diligence involved in either a public share flotation or private equity bids.