Volkswagen’s CEO Is Stepping Down After Four Years on the Job

Herbert Diess is stepping down as CEO of Volkswagen after four years, a tenure marked by advances in electric vehicle development and labor strife.

Herbert Diess
Herbert Diess Getty

Volkswagen announced CEO Herbert Diess, will step down today (July 22), an unexpected departure at the top of one of the world’s biggest auto makers.

Diess, 63, took over as CEO in 2018. A native of Munich, he joined Volkswagen from BMW in 2015. Under his leadership Volkswagen invested heavily in electric vehicles and is on pace to pass Tesla as the world’s biggest EV maker by 2024. His tenure, however, was marked by labor disputes and struggles with automotive software, according to the New York Times.

Diess will be replaced by Oliver Blume, currently the head of VW’s Porsche unit, in September. Volkswagen’s CEO Is Stepping Down After Four Years on the Job