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VW Group CEO Herbert Diess is out

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Volkswagen Group CEO Herbert Diess, the embattled executive who has survived a number of confrontations and power struggles with the board over the past two years, is leaving the company.
The VW AG board said Friday it has appointed Porsche boss Oliver Blume to head up the massive company that includes brands Audi, Bentley, Lamborghini, Porsche and Volkswagen Passengers Cars. VW CFO  Arno Antlitz will take the chief operating officer position. Diess is resigning by “mutual agreement.”
Blume will continue in his role as chairman of Porsche AG, a position he will maintain even after a possible IPO, the company said.
The changes will go into effect September 1, the co …

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