Porsche chief Oliver Blume becomes VW CEO, Herbert Diess steps down

Alexi Falson

Volkswagen’s board of management has tapped Porsche’s CEO, Oliver Blume, on the shoulder to take the job as chief executive officer at Volkswagen as outgoing CEO Herbert Diess steps down.

In the short-term, Blume will take over as Volkswagen’s CEO while retaining his position as Porsche’s CEO, with the company confirming his intention to stay, even in the case of a Porsche IPO.

Oliver Blume first joined the wider Volkswagen Group back in 1994, and has worked in key roles at VW, SEAT, Audi and, of course, Porsche where he joined the board of management in 2015.

Volkswagen’s management reshuffle will see VW Group’s chief financial officer, Arno Anlitz become the chief operational officer where he will be working closely with Blume.

Blume said that he is very excited to lead both Porsche and Volkswagen Group, adding that his focus will be on “customers, brands and products”.

Volkswagen’s supervisory board said that Blume has “proven his operational and strategic skills in various positions within the Group and has managed Porsche AG from a financial, technological and cultural standpoint with great success”.

“He is now the right person to lead the Group and further enhance its customer focus and the position of its brands and products,” board spokesperson Hans Dieter Potsch said.

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