Volkswagen’s CEO Diess Ousted After Tumultuous Tenure, Porsche’s Blume to Succeed

Volkswagen Group chief executive officer Herbert Diess speaks during an event to unveil the new Volkswagen ID Buzz electric van in Hamburg, northern Germany, on March 9, 2022. John Macdougall/AFP via Getty Images

BERLIN—Porsche Chief Executive Oliver Blume will take over from Herbert Diess as CEO of Volkswagen, the carmaker said on Friday, after a supervisory board vote forced Diess to step down from his four-year tenure following a series of missteps over strategy and communication style.

Blume will take over from Sept. 1, keeping his position as CEO of Porsche alongside his news responsibilities—“including in the event of a possible IPO”, a statement said.