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The move is effective Sept. 1, and he will be succeeded by Oliver Blume.
Diess’ future at Volkswagen (ETR:VOWG_p) has been in doubt on multiple occasions durinng his four-year stint as CEO, most recently in autumn last year over clashes with the company’s powerful works council about his electrification strategy and management style.
His departure comes as the company is pushing to beat Tesla (NASDAQ:TSLA) at becoming the world’s top electric vehicle maker, catch up on software and execute an IPO for its Porsche sports car brand.
Diess, in a LinkedIn post before the announcement of his departure, said: “After a really stressful first half of 2022 many of us are looking forward to a well-deserved summer break.”
Blume said in a statement: “My focus will be on the customers, brands and products.”
