The CEO of German carmaker Volkswagen (VW) Herbert Diess delivers a speech during the inauguration event at German carmaker Volkswagen's (VW) first own battery cell factory "SalzGiga" in Salzgitter, central Germany, on July 7, 2022. (Photo by Ronny Hartmann / AFP)

Herbert Diess resigns as CEO of the Volkswagen Group. The company surprisingly announced on Friday evening that the 63-year-old had agreed with the supervisory board to leave on September 1st. Successor is to be Porsche boss Oliver Blume. The decision was made “consensually”, it said in Wolfsburg.

“Dr. Oliver Blume will take on the role of CEO and, at the same time, his role as CEO of Dr. Ing. h.c. F. Porsche AG,” the group explained in a statement to the financial markets. At a meeting, the inspectors also decided that VW CFO Arno Antlitz would support the previous Porsche driver Blume “in day-to-day operations”.

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Chairman of the Supervisory Board Hans Dieter Pötsch thanked Diess. During his time as CEO of both the Volkswagen brand and the Group, he played a key role in driving forward the company’s transformation. Diess pushed the conversion of VW in e-mobility significantly. However, there have recently been a number of problems, especially with the sluggish and increasingly expensive development of in-house software and IT systems.