CEO Franz Fehrenbach (left) will head the Bosch supervisory board. He will be succeeded by Volkmar Denner (Photo: Bosch)

Volkmar Denner, a Robert Bosch board member, will succeed Franz Fehrenbach as CEO of the world's largest automotive supplier July 1.

Denner, 55, is currently board member in charge of corporate research and advance engineering, product planning and technology coordination. In addition, he oversees Bosch's automotive electronics and car multimedia divisions.

Fehrenbach, who has been a board member since 1999 and CEO since 2003, will succeed Herman Scholl as chairman of the Bosch supervisory board. Fehrenbach will also take over from Scholl at the head of the Bosch Foundation, which owns the majority of the Bosch shares.

Scholl, a former CEO of Bosch, has been its supervisory board chairman since 2003. When he retires this summer, he will become "honorary chairman of the Bosch Group" in appreciation of his services to the company.

Denner's appointment underscores the importance Bosch attaches to vehicle electronics and new IT systems. The executive was chosen to run the Bosch group over Bernd Bohr, who heads the group's dominant automotive division.

Denner has a doctorate in physics and joined Bosch in 1986. From 2003 until assuming broader responsibilities in 2010, he headed the group's automotive electronics division.

Bosch said in a press release that Denner has in recent years focused on growing the group's offerings of web-enabled services and solutions. "One example of this is vehicle interconnectivity," the company said.

Replacing Denner in his current role will be Dirk Hoheisel, who has been with Bosch since 1990 in a variety of engineering positions. Hoheisel, 53, is currently executive vice president engineering at the group's chassis systems control division. On July 1, he will take over as board member in charge of automotive electronics and car multimedia.