The End of an Era: Volkswagen CEO Diess to Depart


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Volkswagen CEO Diess, who has only been in the position since April 2019, has announced that he will be leaving the company at the end of this year. Volkswagen’s chairman, Hans Dieter Poetsch, released a statement saying, Diess and I agree that VW must first stabilize internally before we can complete our turnaround successfully. Therefore I have encouraged him to start early preparations with his team to ensure an orderly transition. He continued by stating that Volkswagen will soon begin the search for Diess’ replacement and that he will remain CEO until his successor arrives in March 2020.

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Herbert Diess, current CEO of Volkswagen subsidiary Porsche, will succeed Diess as of Sept. 1, the company announced Friday.

The automaker did not specify the reason for Diess’ departure.

After stepping into the top position in the wake of the Dieselgate scandal, Diesel joined Volkswagen from BMW. After the scandal, he drove the company into a new era, pushing massive investments in electric vehicles with a goal of selling millions of EVs per year by mid-decade.

Volkswagen chair Hans Dieter Potsch thanked Diess for his role in advancing the company’s transformation.

in addition to steering the company through turbulent waters, Potsch implemented a fundamentally new strategy.

After serving in manufacturing roles at Audi, the Spanish automaker SEAT and the Volkswagen brand before joining Porsche in 2013, Blume will take over the helm of that transformation. In 2015, he was appointed CEO of the sports car brand.

Volkswagen said Arno Antlitz, the chief financial officer, will take on the additional title of chief operating officer to “assist Blume with day-to-day operations.”


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