Volkswagen [VW] Group CEO Herbert Diess has resigns

Herbert Diess, Volkswagen Group CEO is leaving the company after two years of not seeing an eye to eye with the board and labour unions. 

The company has appointed Porsche head Oliver Blume to takeover from Diess and lead the company. Blume will also remain the chairman of Porsche AG. VW CFO Arno Antlitz will take the chief operating officer role. 

“During his tenure as Chairman of the Board of Management of the Volkswagen Passenger Cars Brand and as Chairman of the Group Board of Management, Herbert Diess played a key role in advancing the transformation of the company,” the company said in a statement. 

“The Group and its brands are viable for the future; its innovative capabilities and earning power are strengthened. Mr Diess impressively demonstrated the speed at which and consistency with which he was able to carry out far-reaching transformation processes. Not only did he steer the company through extremely turbulent waters, but he also implemented a fundamentally new strategy.” 

Diess shared a message on his LinkedIn timeline, that he’s looking forward to summer vacation after two years of torture by COVID. 

“After a really stressful first half of 2022 many of us are looking forward to a well-deserved summer break,” he wrote. 

“In addition to COVID, which struck our Chinese colleagues extremely hard, we have a war in Europe. Production was still held back by semiconductor shortages and because of a world under stress we saw many other supply challenges and soaring raw material and energy prices.”

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