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

Herbert Diess, CEO of Volkswagen

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Volkswagen CEO Herbert Diess will go away the corporation at the stop of August, the corporation said Friday. Oliver Blume, currently the CEO of Volkswagen subsidiary Porsche, will do well Diess as of Sept. 1.

The automaker failed to deliver a explanation for Diess’ departure.

Diess joined Volkswagen from BMW in 2015, stepping into the best position in the wake of the Dieselgate scandal. He is credited with leading the business previous the scandal into a new era, driving enormous investments in electric vehicles with a purpose of marketing millions of EVs for every year by mid-ten years.

In a statement, Volkswagen chair Hans Dieter Potsch thanked Diess for actively playing a critical role in advancing the transformation of the firm.

“Not only did he steer the firm by very turbulent waters, but he also applied a essentially new approach,” Potsch mentioned.

His successor will be billed with preserving that transformation on class. A career Volkswagen executive, Blume held manufacturing roles at Audi, the Spanish auto brand name SEAT and at the VW manufacturer before turning out to be Porsche’s creation main in 2013. He turned the sporting activities vehicle brand’s CEO in 2015.

Blume will have support as he transitions into the new position. Volkswagen claimed that its main economic officer, Arno Antlitz, will get on the added title of chief functioning officer to “aid Blume with working day-to-working day operations.”