Volkswagen CEO Diess to depart; Porsche boss Blume will lead the German auto giant

Volkswagen CEO Herbert Diess will leave the company at the stop of August, the enterprise reported Friday. Oliver Blume, at present the CEO of Volkswagen subsidiary Porsche, will be successful Diess as of Sept. 1.

The automaker didn’t give a explanation for Diess’ departure.

Diess joined Volkswagen from BMW in 2015, stepping into the best job in the wake of the Dieselgate scandal. He is credited with foremost the firm past the scandal into a new period, driving large investments in electric motor vehicles with a objective of advertising hundreds of thousands of EVs for every yr by mid-10 years.

In a statement, Volkswagen chair Hans Dieter Potsch thanked Diess for taking part in a key position in advancing the transformation of the enterprise.

“Not only did he steer the firm via exceptionally turbulent waters, but he also implemented a basically new strategy,” Potsch said.

His successor will be charged with holding that transformation on class. A vocation Volkswagen govt, Blume held producing roles at Audi, the Spanish car brand name SEAT and at the VW manufacturer ahead of starting to be Porsche’s creation chief in 2013. He became the sports vehicle brand’s CEO in 2015.

Blume will have support as he transitions into the new function. Volkswagen said that its main financial officer, Arno Antlitz, will acquire on the added title of main running officer to “guide Blume with working day-to-working day operations.”