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Volkswagen automobile group dismisses its CEO Herbert Diess

Herbert Diess has been dismissed as CEO of the Volkswagen vehicle team.

In a statement launched today, Friday, July 22, the Volkswagen automobile group’s supervisory board described that its CEO Herbert Diess experienced been dismissed, by mutual arrangement. He will be changed by Oliver Blume as of September 1, 2022.

Blume is currently the president of sports car or truck company Porsche, and will carry on to function that place in conjunction with his new role as head of the Wolfsburg-based mostly group.

Hans Dieter Potsch, chairman of the VW group’s supervisory board, claimed: “During his tenure as Chairman of the Board of Administration of the Volkswagen Passenger Autos Manufacturer and as Chairman of the Group Board of Management, Herbert Diess performed a key position in advancing the transformation of the company”.

He extra: “The Team and its manufacturers are practical for the future its innovative capabilities and earning energy are strengthened. Mr Diess impressively demonstrated the speed at which, and regularity with which, he was capable to carry out considerably-achieving transformation procedures. Not only did he steer the business through very turbulent waters, but he also applied a essentially new strategy”.

Blume joined VW in 1994, and has subsequently held a variety of positions with the Audi, Seat, Volkswagen, and Porsche makes, in which he has been president because 2015.

Potsch famous that Blume has shown operational and strategic capabilities in various positions in the team and throughout various models, although noting that it has led Porsche to financial, cultural, and technological achievement.

Through the assembly of the supervisory board of the German consortium, it was also authorised that Arno Antlitz, the money director of the team, will include the position of Director of Operations to his responsibilities. He will use this place to assist Blume in working day-to-day operations. Today’s announcement noticed a drop in Volkswagen shares of 1.15 per cent.

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