The Volkswagen Group has made the surprise announcement that its chairman Herbert Diess is resigning, to be replaced on 1 September by Porsche CEO Oliver Blume.
Diess is leaving "by mutual agreement", Volkswagen said in an official statement. No specific reason was given for his departure.
Hans Dieter Pötsch, Chairman of the Supervisory Board praised Diess for his role in “advancing the transformation of the company”. The outgoing chairman “not only steered the company through extremely turbulent waters, but he also implemented a fundamentally new strategy.” Potsch said in a statement.
Blume will continue as Porsche CEO after assuming Diess's responsibilities, with VW Group chief financial officer Arno Arlitz moving into the role of chief operating officer to support him with "day-to-day operations".