Kurt Lotz
| Kurt Lotz | |
|---|---|
| Born |
September 18, 1912 Lenderscheid (Frielendorf), Hessen |
| Died | March 9, 2005 (aged 92) Hanover |
| Known for | Volkswagen |
Dr. Kurt Lotz (18 September 1912 – 9 March 2005) was the second post-war Chief executive officer (CEO) of the Volkswagen automobile company in Germany. He was nominated in April 1967 to succeed Heinrich Nordhoff at the end of December 1968. Nordhoff died in April 1968.
Lotz was the son of a farmer from the German state of Hesse. During World War II, he became a Luftwaffe general-staff Major, assigned to assessing needs for the military, which Lotz later looked back on as his first experience with industrial planning on a major scale.
After the war, Lotz worked as a clerk in Mannheim with the German subsidiary of the Swiss electrical company Brown, Boveri & Cie, which makes all kinds of electrical equipment from home appliances to locomotives. Within twelve years, Lotz rose to chairman. He attempted to diversify the firm, by investing in a small computer company to compete with American computer companies, but when it lost money, a rift between Lotz and his Swiss superiors ensued, and he left. By the time he agreed to become Nordhoff's successor at Volkswagen, he was thought of as a wunderkind of German industry for his rapid rise to the top.
Lotz had been scheduled to take over as VW chairman in October 1968, when Nordhoff was to retire; instead, Nordhoff died six months earlier, and Lotz immediately took over then. He made it VW's priority to wean itself off production of its exceedingly popular Beetle when that model began to look dated in comparison to newer small cars in the North American and European markets. Beetle sales actually peaked in the United States the same year Lotz took over. In addition to that, a serious recession in West Germany the previous year, coupled with serious competition at home from Opel and from Ford's newly merged British and German operations, weakened the Beetle's dominance.
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