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 63)
Munich, West 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 a German-born, Austrian businessman, the current 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.[2] In 2018 he was named one of the "Best CEOs in the World" by the CEOWORLD magazine.[3] In 2019 Herbert Diess told VW employees at a work event "EBIT macht frei", a play on the words “Arbeit macht frei” (Work makes you free) which was the slogan over the entrance to Auschwitz and other concentration camps.[4] During the Russian invasion of Ukraine in 2022, Herbert Diess called for Brussels (the EU) to push for a peace deal with Russia so that trade could resume and the EU's commercial interests would be protected.[5] Volkswagen announced in July 2022 that Diess had resigned and would leave the company by the end of August.[6] He was replaced by Oliver Blume.[7]

Diesel Emissions Scandal[edit]

As the current CEO of Volkswagen Group, Herbert Diess was prosecuted, along with Hans Dieter Pötsch, the chairman of the supervisory board of Volkswagen, on September 24, 2019, for the manipulation of Volkswagen's diesel emissions. Executives were charged with withholding information from shareholders about the huge financial implications due to the scandal, which gained much media attention. German law requires top executives to inform shareholders about significant financial risks and issues. This follows after the investigation 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 spurious information, the stocks plummeted almost 40 per cent. 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."[8]

Notes[edit]

  1. ^ https://www.infineon.com/dgdl/CV_Diess_englisch.pdf?fileId=5546d4614a56ecc2014a95a31c096fe3[bare URL PDF]
  2. ^ "Executive Bodies - Volkswagen Group". www.volkswagenag.com.
  3. ^ "Best CEOs in the World 2018". Archived from the original on 7 November 2018. Retrieved 1 March 2021.
  4. ^ Huggler, Justin (14 March 2019). "Anger as VW chief executive plays on Nazi slogan at company event". The Telegraph.
  5. ^ Bottaro, Giulia (9 May 2022). "Ukraine should negotiate with Putin to protect German economy, VW boss says". The Telegraph.
  6. ^ Eddy, Melissa; Ewing, Jack (22 July 2022). "Herbert Diess, Volkswagen's C.E.O., is stepping down". The New York Times. ISSN 0362-4331. Retrieved 6 September 2022.
  7. ^ Welle (www.dw.com), Deutsche. "Volkswagen: Oliver Blume takes over as CEO amid struggles with software division | DW | 01.09.2022". DW.COM. Retrieved 6 September 2022.
  8. ^ "Volkswagen's CEO and chairman charged in Germany over diesel emissions scandal".

References[edit]