Volkswagen has announced a restructuring of its group, included the appointment of Dr Herbert Diess as its new CEO. He succeeds Matthias Müller who steps down by way of a mutual agreement.

Chairman of the Supervisory Board, Hans Dieter Pötsch, expressly thanked Müller for his dedication: “Matthias Müller has done outstanding work for the Volkswagen Group. He assumed the chairmanship of the Board of Management in the fall of 2015 when the Company faced the greatest challenge in its history. Not only did he safely navigate Volkswagen through that time; together with his team, he also fundamentally realigned the Group’s strategy, initiated cultural change and, with great personal commitment, made sure that the Volkswagen Group not just stayed on track but is now more robust than ever before. For that, he is due the thanks of the entire Company.”

In addition this, Pötsch and the rest of the management board has taken on additional management roles. Rupert Stadler will now head Group sales, while Oliver Blume will see to Group production. Diess will oversee vehicle IT, while Frank Witter sees to company IT.

The new structure aims to streamline VW AG management and align all of its brands to safeguard its position as an industry leader.