BMW development chief Herbert Diess becomes VW’s new CEO, replaces Martin Winterkorn

Article by Christian A., on December 10, 2014

Volkswagen Group has tapped the development chief of BMW, Herbert Diess, to become part of its management board. In a statement, VW Group said Diess will become chairman of the Volkswagen passenger car brand on Oct. 1, 2015, replacing current chairman Martin Winterkorn.

In a statement, Winterkorn – who will still be the Group CEO responsible for all brands like Audi, Porsche, Bentley, Bugatti and Lamborghini – called that Diess is an “outstanding personality and one of the most capable minds” in the auto industry.

Winterkorn is currently CEO of both VW Group and VW brand. Diess, who holds a doctorate in mechanical engineering, joined BMW in 1996 after working for German supplier Robert Bosch. He has been serving as member of BMW’s management board since October 2007.

Arndt Ellinghorst’s Evercore ISI's global automotive research chief, said in a note to investors that Diess’ appointment is “big and good news” for VW as he is very well respected and well-known for his direct and straight management style.

He noted that with Diess on board, VW brand would have an easier time raising its profit margin to 6 percent from 2.3 percent. Ellinghorst noted that with his appointment, Diess has become as potential successor to Winterkorn as VW Group CEO.

His appointment at VW brand means that Winterkorn’s burden of running both the marque and the group would become lighter. Winterkorn has been shoring up management ranks to prepare for an eventual change in leadership. [source: VW]

Topics: bmw, vw, ceo

If you liked the article, share on:

Pin It

Comments

Recommended

Has Toyota started the production of a new electric supercharger? Well, a patent that was recently published indicated that they might have. And this electric supercharger looks more durable and...
by - March 27, 2017
The Tesla Model S has finally arrived in South Korean soil and is now available for test drive. But, there’s a catch. You’ll have to wait several months if you...
by - March 27, 2017
Sorry to say this to the Sport Quattro Concept fanatics. If you guys have been hoping for the production of this iconic concept to begin, prepare for your dreams to...
by - March 27, 2017
South Korean car company SsangYong recently revealed sketches of their upcoming SUV. We’re not always impressed by Korean car designs, but this one looks quite promising. Yup, it is the...
by - March 26, 2017
Twenty-eight years after the company was first launched by Toyota, which was initially targeted to the United States market only, Lexus has already made its way to over 70 countries....
by - March 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries