VW ousts CEO Herbert Diess, replaces him with Porsche boss

Volkswagen AG abruptly ousted Herbert Diess, its chief executive officer and architect of the auto industry’s biggest electrification effort, after repeated clashes with labor unions chipped away at his support with key stakeholders. Porsche boss Oliver Blume will succeed Diess within weeks, ending a four-year tenure in which Diess’ hard-nosed leadership style caused constant friction

Continue Reading