Volkswagen: boss Herbess Diess leaves
(CercleFinance.com) - Volkswagen announced on Friday evening that its emblematic boss, Herbert Diess, is to be replaced by Oliver Blume, who is currently head of the luxury car manufacturer Porsche.
The German car giant said that Oliver Blume will take on the responsibilities of chairman of the board of management from 1 September next, in addition to his mandate at the head of Porsche.
The chairman of the supervisory board, Hans Dieter Pötsch, praised the work accomplished by Herbert Diess since 2018, to whom he attributes the strategic transformation carried out by the group during a period that has been deemed "extremely complicated".
However, Oddo BHF analysts say that his departure cannot be considered a great surprise, with his departure comes after many conflicting episodes, mainly with the unions.
Needless to say, the share is currently down 4% in a Frankfurt market that is just under water.
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