Index – Economy – The CEO of Volkswagen resigned unexpectedly

The company announced on Friday that Herbert Diess is leaving the helm of Volkswagen, the world’s second-largest carmaker.

Volkswagen did not give a reason for the departure of Herbert Diess, who will be replaced by Oliver Blume, head of one of VW Porsche’s car divisions, writes the CNN .

Herbert Diess had a busy and challenging assignment. He took over Volkswagen in 2018, following the diesel scandal that forced the company to pay huge US and European fines for misleading emissions figures.

Still, Diess managed to put this scandal mostly in the rearview mirror. It has begun to focus more on electric vehicles, as many other established automakers have, positioning Volkswagen for a major shift. As part of the management reorganization, CFO Arno Antlitz will become chief operating officer.

(Cover photo: Herbert Diess. Photo: Ronny Hartmann / AFP)