5/22/2023 0 Comments Undoing a boss white joint“Herbert Diess has strategically geared Volkswagen group toward electromobility,” Wolfgang Porsche and Hans-Michel Piech, leaders of the family with majority voting rights at VW, said in a joint statement. Skirmishes between the manufacturer’s controlling shareholder family, trade unions and the German state of Lower Saxony that holds a significant stake have undermined performance and ended careers. ![]() He will remain the head of Porsche, which VW is trying to list late this year in what could be one of Europe’s biggest-ever initial public offerings.ĭiess, 63, becomes the latest in a long line of leaders undone by VW’s complex hodgepodge of power centres. VW’s board is betting Blume will be a more collaborative and stable leader, said the people, who asked not to be identified discussing private deliberations. Missteps on key projects, including delays at VW’s software unit, also contributed to the shake-up, people familiar with the matter said. Porsche boss Oliver Blume will succeed Diess within weeks, ending a four-year tenure in which his hard-nosed leadership style caused constant friction and undermined his effectiveness. ![]() ![]() Volkswagen AG abruptly ousted Herbert Diess, its CEO and architect of the auto industry’s biggest electrification effort, after repeated clashes with labour unions chipped away at his support with key stakeholders.
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