The Volkswagen Group is about to undergo major changes, with CEO Herbert Diess stepping down and being replaced by Porsche CEO Oliver Blume.
According to local German media, Blume was appointed to ascend to the highest position in the VW Group, while continuing to maintain his position at Porsche. Blume is also expected to lead the VW Group towards a better future of electrification.
Diess has so far been considered quite good at handling the difficult times when he led Volkswagen. When the pandemic isn't over, Diess must be confronted again by the diesel emissions cheating scandal, as well as massive investments towards electrification. Not only that, Diess even had to face a dispute with the union of the company that had been laid off.
Diess first joined the VW Group as CEO of Volkswagen in 2015 after previously serving as the R&D leader for BMW. VW Supervisory Board Chairman Hans Dieter Pötsch assessed that Herbert Diess had played a key role in advancing the company's transformation.
“Mr. Diess impressively demonstrated the speed and consistency with which she was able to carry out an extensive transformation process. Not only can it bring the company up against obstacles, but Diess also implements a good new strategy,” said Hans Dieter Pötsch.
Oliver Blume is known to have led Porsche for seven years, and was judged a success by the board. Porsche is even known as one of the most profitable automotive manufacturers in the automotive industry, and is quite successful in presenting the Porsche Taycan electric car.
