Volkswagen Chief Replaced Following Internal Disputes
Herbert Diess was removed from his position after clashing with key stakeholders and directors, for which he has now apologised.
After curtailing CEO Herbert Diess’s responsibilities on Monday, Volkswagen announced his replacement and publicly acknowledged his apology to the brand’s nineteen-member board of directors.
Diess’s replacement comes after several weeks of disputes with stakeholders over the direction of the company, according to sources. Diess allegedly accused members of the company’s supervisory board of illegally leaking confidential information, leading to his removal from the chief executive position and subsequent apology.
“The members of the Supervisory Board accepted the apology of Dr. Diess, and will continue to support him in his work,” Volkswagen said in its Tuesday statement.
In his place, the board has tapped Ralf Brandstätter, its chief operating officer, to the position of brand CEO. A former shopfitter, Brandstätter joined the Volkswagen Group in 1993 and eventually became an assistant to the board.
His appointment now comes at a pivotal time for the company, which is seeking to shift its focus towards electric vehicles, with a target of selling 1.5 million EVs by 2025.
Diess has supported Brandstätter’s appointment, describing him as “one of the company’s most experienced managers”.