Herbert Diess, CEO of Volkswagen, will retire “by mutual agreement”
Herbert Diess was named as the next CEO of Volkswagen in 2019. After finishing his studies in Munich, he worked for Robert Bosch before spending a significant amount of time at BMW AG. He was named CEO of Volkswagen after working for BMW AG for fifteen years.
Diess recently gained recognition for playing a significant role in the electrification of the car industry. After the prior diesel-clad smear, the company’s rebranding made considerable strides.
Due to a “mutual agreement” with Volkswagen, the CEO is stepping down. Oliver Blume, the current CEO of Porsche, will succeed Diess at the Volkswagen Group while continuing to lead the sports car manufacturer.
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In a recent LinkedIn post, Diess did not specifically indicate his departure, but he did provide a strong hint that this is farewell and that Volkswagen is in excellent hands without announcing a new CEO. A well-deserved summer holiday is something that many of us are looking forward to after an extremely difficult first half of 2022.
The first half of 2021 was considerably more hard than the already challenging year before it. In addition to COVID, which severely affected our Chinese colleagues, there is a conflict going on in Europe. Due to a stressed-out globe, there were still shortages of semiconductors holding back production, along with several other supply issues and skyrocketing prices for raw materials and energy.
Diess continued by discussing Volkswagen’s advancements, its products, and the difficulties encountered during and after development. The entire experience provided included all the highs and lows the firm experienced together, including the semiconductor scarcity, the major step of breaking ground in the Giga cell facility, the first drive with the Robo shuttle, and many more. Finally, he thanked all of the staff members and offered his congratulations to the new hires, who would be a part of a larger shift for the business.
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Oliver Blume, the 54-year-old CEO of Porsche, will take Diess’ position as CEO of both Volkswagen and Porsche, according to a statement from VW. It was also reported that Arno Antlitz, CFO of VW, will assist Blume in running the company on a daily basis while he completes preparations for Porsche AG’s anticipated IPO this fall. Hans Dieter Pötsch, the chairman of the supervisory board, commended Diess for his work as CEO and for transforming the business.
Hans Dieter Pötsch, the board chairman, congratulated Herbert Diess for advancing the business’s transition to electric cars in a statement, saying that Diess “played a vital role in driving forward the transformation of the company.
“Even if Diess had disagreements with labour leaders, it is doubtful that he would have quit if the Porsche and Pich families, who control the majority of Volkswagen’s voting shares, still had faith in him. Four of the 20 supervisory board positions are held by family members, and Pötsch is trusted by the families.
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