There has been a change of the guard at Volkswagen Auto Group (VAG). After holding the position as the Chairman of the Board of Management at Volkswagen AG, Herbert Diess will be stepping down from his role and will be succeeded by Oliver Blume, CEO of Porsche.
In a recent meeting, the Supervisory Board of Volkswagen AG formally appointed Blume as the new Chairman of the Group Board of Management. He will take over with immediate effect as of September 1, 2022, combining his role in Volkswagen as well as the CEO of Porsche AG.
“I am very excited to lead both Porsche AG and the Volkswagen Group. My focus will be on the customers, brands, and products. The human component is always at the forefront for me. Team spirit, fairness, and passion are essential for success, and this applies to the brands as well as the Group. The Porsche team can rely on me to lead the company over the long term – also after a possible IPO. We have put Porsche on a successful footing technologically, financially, and culturally – and see ourselves as a leader of sustainable mobility,” said Blume.
Outgoing Volkswagen AG boss Herbert Diess
The newly-appointed head of Volkswagen AG first joined the company back in 1994 and has held several management positions within several brands. These include Audi, SEAT, Volkswagen, and Porsche. Before joining Porsche's Board of Management in 2015, Blume was managing the brand's Production & Logistics division. He then became part of the Volkswagen Group board in 2018.
As for outgoing Volkswagen AG CEO Herbert Diess, he first joined the company back in July 2015 just months before the Dieselgate scandal broke out. This essentially set the stage for Diess at the company which had to contend with investigations, scrutinies, and fines from governments around the world. Diess then became CEO of the company in 2018 and guided the company towards electric vehicles (EVs) and zero emissions mobility solutions.
Diess also came up with other innovative product ideas, redesigned product portfolios, and established a clearer focus on the importance of electromobility. He can also be credited with the new organizational orientation of the group with more independent regions, the introduction of brand groups and series just as the new personnel orientation of top management, and the members of the Brand Board of Management.
With Blume set to lead both Volkswagen and Porsche, there's a lot riding on him as both companies head towards a greener and more eco-friendlier future.