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Volkswagen CEO Herbert Diess giving up managing VW brand

2 years 5 months 3 weeks ago Monday, June 08 2020 Jun 8, 2020 June 08, 2020 8:15 PM June 08, 2020 in News
Source: AP News

BERLIN - Volkswagen CEO Herbert is suspending his management of the company's core VW brand in order to concentrate more on the group as a whole according to company.

Diess image had been tarnished due to the fallout from the company's emissions scandal. He will be replaced by Ralf Brandstaetter as the head of the VW brand. Brandstaetter served as the brand chief operating officer according to the company in a statement.

The change aims to give Diess a more eco-friendly image. Diess has been pushing the company ahead with a shift toward zero emission vehicles. 

The brand as a whole includes Audi, Porsche, and Skoda.

“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 USD,  payment, with no admission of guilty from the two.

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