Herbert Diess leaves VW
07-22-22, 12:41 PM
#1
Lexus Fanatic
Thread Starter
Herbert Diess leaves VW
This does not surprise me at all he has clashed with the "old guard" and unions since he has been with the company. This is a big loss for VW IMO he was successful in pushing VW kicking and screaming away from diesel and gas cars and into EVs.
VW's CEO Diess to step down after tumultuous tenure, Blume to succeed
BERLIN, July 22 (Reuters) - Volkswagen's (VOWG_p.DE) CEO Herbert Diess is stepping down and will be succeeded by Porsche boss Oliver Blume, Europe's top carmaker said on Friday, after a four-year tenure in which Diess pushed VW's electric vehicles ambitions and clashed with its work council and board.
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, pressed for a change at the helm.
"Diess was incorrigible. He significantly changed Volkswagen - for the better. But his communication was miserable," one source said, asking not to be named.
Diess will leave his role on September 1, three years ahead of the end of his contract in 2025.
BERLIN, July 22 (Reuters) - Volkswagen's (VOWG_p.DE) CEO Herbert Diess is stepping down and will be succeeded by Porsche boss Oliver Blume, Europe's top carmaker said on Friday, after a four-year tenure in which Diess pushed VW's electric vehicles ambitions and clashed with its work council and board.
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, pressed for a change at the helm.
"Diess was incorrigible. He significantly changed Volkswagen - for the better. But his communication was miserable," one source said, asking not to be named.
Diess will leave his role on September 1, three years ahead of the end of his contract in 2025.
07-22-22, 12:52 PM
#2
"This is a big loss for VW" Apparantly they did not think so...
You might say VW has problems... They hired the wrong guy to fix the problems of the last guy.
I suspect VW's poor margins made the costly switch to electric drivetrains tough to achieve.
Porsche margins are skyhigh; they are in Tesla territory, but their vehicles are a totally different target market than VW.
i'm sure there is much more to the story. I wish the new guy well.
VW and Porsche both make autos. But their respective markets are worlds apart.
CEOs have different strengths and weaknesses. For example, some are good at startup and growth modes but are not right for the mature long term.
New Porsches are for customers with deep pockets; the cars generally do not even accumulate a ton of miles.
Don't even get driven in the rain! High margin / low volume business model.
VW is the opposite. Low margin / high volume business model.
You might say VW has problems... They hired the wrong guy to fix the problems of the last guy.
I suspect VW's poor margins made the costly switch to electric drivetrains tough to achieve.
Porsche margins are skyhigh; they are in Tesla territory, but their vehicles are a totally different target market than VW.
i'm sure there is much more to the story. I wish the new guy well.
VW and Porsche both make autos. But their respective markets are worlds apart.
CEOs have different strengths and weaknesses. For example, some are good at startup and growth modes but are not right for the mature long term.
New Porsches are for customers with deep pockets; the cars generally do not even accumulate a ton of miles.
Don't even get driven in the rain! High margin / low volume business model.
VW is the opposite. Low margin / high volume business model.
07-22-22, 06:19 PM
#3
Lexus Test Driver
Porsche talent at VW can mean some cool things maybe.
I read this thread just before going to the store today and as I was driving by the VW dealer I said to myself, why not stop in and have a look at the cars.
Have to say the VW Atlas is a nice looking mid size SUV.
I don't think it is a BOF design but I could be wrong.
The VW Tiguan looks good too and maybe the size of a Lexus NX and they must've had 50 of them off lease for sale.
Took some pics for everyone but didn't know there was already an Atlas thread till I just now so I'll drop the pics there.
Add- the VW prices look like a bargain to me. A fully loaded VW Atlas with 3rd row seating was $46,500 and that included a $2k "market adjustment".
I read this thread just before going to the store today and as I was driving by the VW dealer I said to myself, why not stop in and have a look at the cars.
Have to say the VW Atlas is a nice looking mid size SUV.
I don't think it is a BOF design but I could be wrong.
The VW Tiguan looks good too and maybe the size of a Lexus NX and they must've had 50 of them off lease for sale.
Took some pics for everyone but didn't know there was already an Atlas thread till I just now so I'll drop the pics there.
Add- the VW prices look like a bargain to me. A fully loaded VW Atlas with 3rd row seating was $46,500 and that included a $2k "market adjustment".
Last edited by Margate330; 07-22-22 at 07:28 PM.
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