Volkswagen CEO Herbert Diess giving up managing VW brand

Volkswagen CEO Herbert Diess giving up managing VW brand
In this file photo dated Monday, Sept. 9, 2019, CEO of Volkswagen Herbert Diess introduces the new VW ID.3 at the IAA Auto Show in Frankfurt, Germany. The German automaker Volkswagen said Monday June 8, 2020, that CEO Herbert Diess is giving up managing the company's core VW brand in order to concentrate more on the group as a whole. (AP Photo/Michael Probst, FILE)

Volkswagen's CEO is giving up managing the company's core VW brand in order to concentrate more on the group as a whole, the German automaker said Monday.

Herbert Diess, whose image had been tarnished in the fallout from the 's diesel-emissions scandal, will be replaced as head of the VW brand by Ralf Brandstaetter, who has been serving as the brand's , the company said in a statement.

The change will give Diess, who has been pushing the company ahead with a shift toward and a new, more environmentally friendly image, more time to focus on the overall brand, which includes Audi, Porsche and Skoda, the company said.

"The goal is a stronger focus on the respective tasks from the top of the group and brand in the ongoing transformation phase of the automobile industry," VW said.

Diess and Board Chairman Hans Dieter Poetsch had been charged by German prosecutors with securities-law violations for allegedly failing to tell investors in time about the company's looming diesel scandal in 2015. The charges were dropped last month in return for a 9 million-euro ($10 million) payment, with no admission of guilty from the two.

Volkswagen was caught using software to evade U.S. emissions requirements for diesel cars. The cost the company 31 billion euros ($34 billion) in fines and settlements.

Diess took over as head of the VW in 2015, coming from BMW, and worked his way up to CEO of the group in 2018.


Explore further

Former Audi boss faces German 'dieselgate' trial in September

© 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Citation: Volkswagen CEO Herbert Diess giving up managing VW brand (2020, June 8) retrieved 24 November 2020 from https://techxplore.com/news/2020-06-volkswagen-ceo-herbert-diess-vw.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
 shares

Feedback to editors

User comments