Volocopter has named former Lilium finance chief Oliver Vogelgesang as its new CFO, effective immediately.
Vogelgesang succeeds Christian Bauer in the role at the Bruchsal-based electric vertical take-off and landing (eVTOL) developer. Bauer will remain the company’s chief commercial officer, Volocopter says.
Volocopter adds Vogelgesang will “steer the ongoing fundraising activities and future-proof financial activities following its aircraft certification in 2025 and entry into market“.
“The company will be gaining an industry and financial expert who has been successful in binding transactions with multiple stakeholders worldwide,” says outgoing chief executive officer Dirk Hoke.
“Oliver’s appointment will invigorate our senior management team and support Volocopter’s future growth. Thanks to Christian Bauer who has fortified our financial foundations so that we can move forward.”
Prior to his tenure at Lilium, Vogelgesang also held leadership positions at Airbus, Volocopter adds.
“His expertise lies in building up strong and international finance teams, business modelling, and raising capital for transitioning startups, which translate uniquely into Volocopter’s short- to medium-term financial targets,” the company says.
Volocopter announced in September that CEO Hoke will be leaving the company in February 2025. It has not yet named a successor.
Lilium’s two main German subsidiaries filed for insolvency in late October after it was denied a government loan guarantee, and earlier this month and appointed accountancy firm KPMG to sell the business, as the cash-strapped air taxi developer seeks new investment.
