Herbert Diess Appointed As The New CEO Of VW Group
The Board of Management and Supervisory Board of Volkswagen have appointed Dr. Herbert Diess to replace Matthias Muller as the new Chairman of the Board of Management. Matthias Muller stepped down as the chairman of the VW Group by mutual agreement, effective immediately. Other than appointing a new CEO, VW also appointed Porsche CEO Oliver Blume to the Group Board of Management. Other appointments announced by the automaker include Gunnar Kilian, from the company’s works council, as group head of human resources, succeeding Karlheinz Blessing, who will be available as a consultant until his contract expires.
Speaking about the appointment, Chairman of the Supervisory Board Hans Dieter Potsch said, "Matthias Muller has done outstanding work for the Volkswagen Group. He assumed the chairmanship of the Board of Management in the fall of 2015 when the company faced the greatest challenge in its history. Not only did he safely navigate VW through that time; together with his team, he also fundamentally realigned the group's strategy, initiated cultural change and, with great personal commitment, made sure that the Volkswagen Group not just stayed on track but is now more robust than ever before. For that, he is due the thanks of the entire company."
Earlier, Diess was serving BMW as head of purchasing. He was instrumental in the luxury brand’s ability to weather the financial crisis by squeezing more than 4 billion euros out of supply costs. Later he took charge of development, but was ultimately passed over for the CEO position when the company picked Harald Krueger in December 2014. That spurred his move to Volkswagen.
Commenting on his appointment as the new VW CEO, Dr. Herbert Diess said, "My most important task will now be to join with our management team and our Group workforce in consistently pursuing and pushing forward our evolution into a profitable, world-leading provider of sustainable mobility."
Apart from restructuring the group's management structure, VW also announced some future plans. According to the plans, as part of an effort to decentralize responsibility and improve efficiency, Volkswagen will divide itself into six new business areas, as well as a portfolio for China. Reports also suggest that the carmaker will prepare its truck and bus division for "capital market readiness" by making it a public limited company as a prelude to a potential listing. The new car brands will be Volume, Premium and Super Premium. Stay tuned to V3cars.com for further updates.
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