Herbert Diess

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Herbert Diess
Herbert Diess at IAA 2019 IMG 0200.jpg
Diess in 2019
Born (1958-10-24) 24 October 1958 (age 61)
Munich, Germany
NationalityAustrian[1]
EducationPh.D.(mechanical engineering, production technologies) 1987
Alma mater
OccupationChairman of Management Board, CEO, Chairman of Volkswagen Brand Board of Management
EmployerVolkswagen Group
Board member ofAudi AG, Volkswagen AG, SEAT S.A., Škoda Auto, Porsche Holding GmbH, others

Herbert Diess (born 24 October 1958) is the chairman of the board of management of Volkswagen Group as well as the chairman of the board of management of the Volkswagen Passenger Cars brand.[3] In 2018 he was named one of the "Best CEOs in the World" by the CEOWORLD magazine.[4]

Diesel Emissions Scandal[edit]

Herbert Diess (current VW CEO) and Hans Dieter Pötsch[clarification needed] were prosecuted on September 24, 2019 for the manipulation of Volkswagen's diesel emissions. Shareholders were[clarification needed] withheld from being informed about the huge financial implications due to the falsified diesel emissions. As a result the scandal has been gained media attention which highlights the German law that states that top executives must inform shareholders about information that can cause huge financial risks and issues. This follows after the investigation of finding that Volkswagen's rigged millions of diesel cars worldwide to cheat on emissions tests which led the company to lose over $30 billion. As a result of the falsified information, the stocks fell nearly 40%. However Volkswagen defended themselves: "The company has meticulously investigated this matter with the help of internal and external legal experts for almost four years ... the result is clear: the allegations are groundless."[5]

Notes[edit]

  1. ^ https://www.infineon.com/dgdl/CV_Diess_englisch.pdf?fileId=5546d4614a56ecc2014a95a31c096fe3
  2. ^ "Executive Profile Herbert Diess", Bloomberg.com
  3. ^ "Executive Bodies - Volkswagen Group". www.volkswagenag.com.
  4. ^ "Best CEOs in the World 2018".
  5. ^ "Volkswagen's CEO and chairman charged in Germany over diesel emissions scandal".

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