Herbert Diess Resigns As VW Group Chairman - End Of An Era

The Volkswagen Group in a surprise announcement stated that Herbert Diess would be stepping down as its Chairman effective the 1st of September. Diess will be replaced as VW Chairman by Porsche CEO Oliver Blume.

Herbert Diess Resigns As VW Group Chairman - End Of An Era

No specific reason has been given for Diess' exit which Volkswagen stated was by mutual agreement. Diess was appointed as the Chairman of the Volkswagen Group in 2018. Diess was tasked with the job of taking the company in a new direction following the disastrous Dieselgate scandal. Diess moved the VW Group towards electrification with the automaker coming out with a host of electric vehicles shared across its collection of multiple brands.

Herbert Diess Resigns As VW Group Chairman - End Of An Era

Diess was thanked on behalf of the VW board by the Chairman of the Group's Supervisory Board, Hans Dieter Pötsch, who stated, "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 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."

Herbert Diess Resigns As VW Group Chairman - End Of An Era

Diess will be succeeded as VW Group Chairman by current Porsche CEO Oliver Blume. Blume joined the Volkswagen Group in 1994 as part of Audi's international trainee program. After holding multiple positions across multiple VW group brands, Blume was appointed to the Porshce management board in 2013. Two years later, Blume was appointed CEO in 2015 and he spearheaded the sports car manufacturer's push towards electrification.

Herbert Diess Resigns As VW Group Chairman - End Of An Era

Porsche is currently working on electric versions of the Macan SUV, the Cayman coupe and the Boxster convertible sports cars. Porsche's currently has a single electric offering in the form of the Taycan which is sold in both sedan and estate (Cross Turismo) guises. The Taycan currently outsells Porsche flagship 911 sports car.

Herbert Diess Resigns As VW Group Chairman - End Of An Era

Thoughts On Herbert Diess' Exit From THe VW Group

Herbet Diess took over the Volkswagen Group when the company was deep in the mire of the dieselgate scandal. In his four years in charge, Diess transformed the VW Group from its lowest low into a company that is now leading the charge to catch up with Tesla in the world of EVs.

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Article Published On: Monday, July 25, 2022, 18:46 [IST]
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