BERLIN (Reuters) – Volkswagen announced on Friday that Herbert Diess will step down as chief executive, marking a major change in management at one of the world’s largest German companies.
The measure will become effective on September 1 and will be succeeded by Oliver Blum, the CEO of the subsidiary, as the automaker’s chief executive officer. Porsche (ETR :).
Dees’ future at Volkswagen has been in doubt several times during his four-year tenure as CEO, most recently in the fall of last year due to clashes with the powerful business council over his electrification strategy and management style.
His departure comes as the company is trying to overtake Tesla (NASDAQ 🙂 to become the world’s first electric car maker, enroll in the program and launch the initial public offering of its Porsche sports car brand.
“After a really stressful first half of 2022, many of us are looking forward to a well-deserved summer vacation,” Dess said in a LinkedIn post before announcing his departure.
“I will focus on customers, brands and products,” Bloom said in a statement.
(Reporting by Victoria Waldersi and Tom Sims; Editing in Spanish by Javier López de Lleida)
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