Diess to advise VW after leaving CEO | Free press

There were a few rumors about replacements. From Friday, it was clear: Herbert Diess is stepping down as head of VW. However, the manager remains in the group and continues to receive a salary.


According to the circles of the concern, the head of Volkswagen, Herbert Diess, will continue to work for the company after his departure. The 63-year-old will initially remain a permanent consultant until the end of the contract in the fall of 2025 and will continue to earn, the German press agency learns. VW announced on Friday that the manager will hand over Porsche boss Oliver Blume on September 1.

Diess joined VW in 2015 and became CEO in 2018. Last year, he earned over 10 million euros, including spending on future retirement benefits. Without pension rights, it was almost EUR 8.6 million.

According to the company, the decision to change staff was “in line”. This is how Hans Dieter Pötsch, chairman of the supervisory board, thanked him. Diess “significantly accelerated the transformation both while he was CEO of the Volkswagen brand and the group.” The former BMW manager pushed VW’s conversion to e-mobility and the expansion of the business to mobility services. However, there have been many problems recently, especially with the slow development of proprietary software.

Expected software breakdown

According to car expert Ferdinand Dudenhöffer, Blume will also adapt the Cariad software division. “Cariad will not remain as it was,” said a professor from Duisburg. “The plan to do everything independently and centrally should be reconsidered.”

VW did want its own all-brand operating system ready for use by 2026, but it’s too late for Porsche. “In my opinion, standard solution failures and resistance from individual brands will lead to an overall rethink,” said Dudenhöffer. Blume is likely to continue the Diess strategy except in the software area.

In addition to his position as CEO, the 54-year-old flower will continue to lead the Porsche sports car subsidiary. VW CFO Arno Antlitz is to support him in the day-to-day activities of the entire group. One of Blume’s tasks was to prepare for the Porsche IPO, which is scheduled for the end of the year. (dpa)

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