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:

Comments

Recommended

Mazda seems too far ahead in Safety technology for having four of its vehicles chosen as the safest on the road. Very recently, the Insurance Institute for Highway Safety has...
by - June 22, 2017
The automotive world is intensely competitive given the growing number of players, but the British car manufacturer is adamantly holding on to its spot. The 2018 Jaguar XF Sportbrake, priced...
by - June 22, 2017
Audi’s all-electric supercar, the R8 e-tron, had been discontinued last October after being in the market for under two years. The electric vehicle was then exclusive to the European market...
by - June 22, 2017
Dodge has made it clear to everyone, including its potential buyers, that the Challenger SRT Demon is a street-legal drag car - that it is unlike any of your ordinary...
by - June 22, 2017
After a number of failed attempts, Tesla finally gets an Arizona dealership license by winning a court battle that allows them to sell directly to consumers. The automotive dealer license...
by - June 22, 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