Volkswagen's CEO is leaving his post in a surprise move, effective September 1.
The company announced Friday that CEO Herbert Diess will be replaced by Oliver Blume, the head of Volkswagen 's Porsche performance car division.Volkswagen, the world's second largest automaker, did not provide a reason for Diess' exit. But a Reuters report citing unnamed sources said the Porsche and Piech families — who between them own a majority of the voting rights in Volkswagen — pressed for a change at the helm.
Tesla still sold more than twice as many pure EVs as VW did in 2021 — and EVs represented only 5% of the vehicles VW sold last year — but the shift in focus under Diess was important for the company's future plans."Herbert Diess played a key role in advancing the transformation of the company.
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