Volkswagen CEO Diess to depart; Porsche boss Blume will lead the German auto large

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Volkswagen CEO Herbert Diess will depart the corporate on the finish of August, the corporate stated Friday. Oliver Blume, presently the CEO of Volkswagen subsidiary Porsche, will succeed Diess as of Sept. 1.

The automaker did not present a motive for Diess’ departure.

Diess joined Volkswagen from BMW in 2015, moving into the highest job within the wake of the Dieselgate scandal. He’s credited with main the corporate previous the scandal into a brand new period, driving huge investments in electrical automobiles with a aim of promoting hundreds of thousands of EVs per yr by mid-decade.

In a press release, Volkswagen chair Hans Dieter Potsch thanked Diess for enjoying a key position in advancing the transformation of the corporate.

“Not solely did he steer the corporate by way of extraordinarily turbulent waters, however he additionally applied a basically new technique,” Potsch stated.

His successor can be charged with retaining that transformation on track. A profession Volkswagen government, Blume held manufacturing roles at Audi, the Spanish auto model SEAT and on the VW model earlier than turning into Porsche’s manufacturing chief in 2013. He grew to become the sports activities automobile model’s CEO in 2015.

Blume can have assist as he transitions into the brand new position. Volkswagen stated that its chief monetary officer, Arno Antlitz, will tackle the extra title of chief working officer to “help Blume with day-to-day operations.”

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