Volkswagen AG CEO Herbert Diess is resigning by “mutual agreement,” the automaker says. “But a supervisory board vote forced Diess to step down following a series of missteps over
strategy and communication style,” per Automotive News. “Sources with knowledge of the matter said the Porsche and Piech families, who own over half the voting rights and a 31.4% equity
stake in Volkswagen, also pressed for a change at the top.” Oliver Blume, head of the Porsche brand, will take over the role while maintaining his current position.
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