Photo: Volkswagen
After four years as CEO of the Volkswagen Group, Herbert Diess is resigning “by mutual agreement,” according to the announcement made by Volkswagen. This unexpected shake-up comes amid controversies and a spat with the influential work council over the electrification strategy.
German media reports that Herbert Diess’s departure has been pushed by the Porsche and Piech families. The official announcement speaks of Diess’s decision to leave the company. However, discontent was brewing within the company for some time. Diess has made powerful enemies in his push to accelerate the company’s electrification efforts. Following a clash with the labor union, Diess’s future at Volkswagen has been put in the balance.
“Volkswagen AG today announced that its chairman of the executive board, Dr. Herbert Diess, will in agreement with the supervisory board resign from his position effective 1 September 2022,” said Volkswagen in a statement.
Starting the same day, Porsche CEO Oliver Blume will succeed Diess as the CEO of the Volkswagen Group. Blume will also continue his role as the head of the Porsche brand. This decision speaks volumes about Herbert Diess’s unexpected departure. Blume will be assisted in his role by CFO Arno Antlitz, who will assume the position of the chief operating officer.
“For years now, Oliver Blume enjoys our explicit confidence. We are convinced he will continue the successful development of the Volkswagen group and forcefully implement the necessary measures,” informed the same source.
Unexpected as it may be, Herbert Diess’ departure was a long time in the making. His position significantly weakened last week after the problems at Volkswagen’s software arm Cariad threatened to derail the company’s automated driving efforts.
Volkswagen is pushing to beat Tesla as the world’s top EV maker, catch up on software, and is close to launching an IPO for the Porsche sportscar brand. Blume’s naming as the new CEO is presented as a “generation change in the Volkswagen Group.”
“Volkswagen AG today announced that its chairman of the executive board, Dr. Herbert Diess, will in agreement with the supervisory board resign from his position effective 1 September 2022,” said Volkswagen in a statement.
Starting the same day, Porsche CEO Oliver Blume will succeed Diess as the CEO of the Volkswagen Group. Blume will also continue his role as the head of the Porsche brand. This decision speaks volumes about Herbert Diess’s unexpected departure. Blume will be assisted in his role by CFO Arno Antlitz, who will assume the position of the chief operating officer.
“For years now, Oliver Blume enjoys our explicit confidence. We are convinced he will continue the successful development of the Volkswagen group and forcefully implement the necessary measures,” informed the same source.
Unexpected as it may be, Herbert Diess’ departure was a long time in the making. His position significantly weakened last week after the problems at Volkswagen’s software arm Cariad threatened to derail the company’s automated driving efforts.
Volkswagen is pushing to beat Tesla as the world’s top EV maker, catch up on software, and is close to launching an IPO for the Porsche sportscar brand. Blume’s naming as the new CEO is presented as a “generation change in the Volkswagen Group.”
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