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Volkswagen CEO steps down, faces series of setbacks
Volkswagen CEO reveals EV plans for company
Volkswagen Group CEO Herbert Diess says in many markets, the company plans to ‘be 100% electric by 2035.’
Herbert Diess, the Volkswagen CEO whose image was tarnished in the fallout from the German automaker’s emissions-cheating scandal, is stepping down.
In a surprise announcement Friday, the Wolfsburg, Germany-based company said Diess will depart Sept. 1 "by mutual consent" with the board. No reason was given for his departure. Oliver Blume, CEO of VW brand Porsche, will succeed Diess.
Diess, who took over as chief executive in 2018, presided over the automaker at a time of significant change in the industry, including a shift toward increased production of electric vehicles. His contract was set to expire in 2025.
Board Chairman Hans Dieter Poetsch thanked Diess in a statement and praised his role in "advancing the transformation of the company."
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"Not only did he steer the company through extremely turbulent waters, but he also implemented a fundamentally new strategy," Poetsch said.