The Board of Directors of the Volkswagen Group has expressed its support for CEO Herbert Diess. The CEO may further implement his vision for the group. Earlier it was rumored that Diess might have to leave.
It seemed on Monday that Herbert Diess does not have to fear for his future as CEO of the Volkswagen Group for the time being. Now the group itself has come up with a statement in which it expresses its support for Diess. “In the coming years, the Volkswagen AG Board of Directors will implement the strategy with Herbert Diess at the top. The Chairman of the Board and his new management team have the full support of the Supervisory Board, not only when it comes to the new orientation towards electromobility and digitization, but also to increase the efficiency and profitability of all brands and parts of the group. “
Diess is not only allowed to continue on the course he has set out in the coming years, he is also thanked for what has happened to Volkswagen and its subsidiary brands in recent years under his rule: “Without his efforts, the transformation of the company would not be so consistent and successful. The Supervisory Board appreciates the determination and persistence that Herbert Diess has shown to move forward not only with technological change and contribution to achieving climate goals, but also with the company’s financial results. “
Previously, there seemed to be unrest at the top of the company, because shareholding union leaders, among others, are not necessarily happy with Diess’s reforms. Diess’s contract expires in 2023 and he would have asked for an early extension to be supported in his approach. Although it seems that an extension is not yet on the agenda, it is now clear that Diess can continue to follow the same course from the rest of the board for the time being. Under the rule of 62-year-old Diess, the Group is rapidly rolling out electric model ranges and is investing heavily in things such as digitization, new software and autonomous technology. That while Volkswagen is still in the aftermath of the diesel scandal and a new global crisis has emerged this year.