Volkswagen Group Chairman and CEO Herbert Diess will be stepping down from his position which will be replaced by the CEO of Porsche Oliver Blume. Blume will remain the Chairman of the Board of Management of Dr Ing. h.c. F. Porsche AG, while playing the role of Chairman of the Group Board of Management. He will be taking over the role from September 1 onwards.
In a statement, the Chairman of the Group Board of Management Hans Dieter Potsch said, "Oliver Blume has proven his operational and strategic skills in various positions within the Group and in several brands and has managed Porsche AG from a financial, technological and cultural standpoint with great success for seven years running,"
"From the Supervisory Board's point of view, he is now the right person to lead the Group and to further enhance its customer focus and the positioning of its brands and products," He added.
Blume has held management positions ever since he joined the Volkswagen Group back in 1994 for the brands, AUDI, SEAT, Volkswagen and, Porsche. Additionally, He has been the Chairman of the Board of Management at Porsche since 2015 and a member of the Group Board of Management since 2018.
The Supervisory Board also resolved that Group CFO Arno Antlitz will additionally assume the position of COO and assist Blume with day-to-day operations.