Volkswagen’s CEO Herbert Diess has stepped down. Volkswagen is the second biggest automaker in the world. Diess will be replaced by Oliver Blume, who is the Porsche chief. Blume will now become the chairman of the board of management on September 1st. Diess was first hired in 2015 to try and regain customer trust after the Dieselgate scandal. Diess was one of the most aggressive people in trying to make the auto industry more electric, which earned him respect from Tesla CEO, Elon Musk. Due to the change in leadership, it is unknown what will happen to VW’s $100 billion dollar investment in electric vehicles.
