Trending: Volkswagen Board Ousts CEO
July 25 2022 - 6:37AM
Dow Jones News
1007 GMT - Volkswagen is among the most talked about companies
in Europe across all news items in the past 12 hours, according to
Factiva data, following the German car maker's decision to replace
Herbert Diess as chief executive officer. Diess will be succeeded
by Porsche AG leader Oliver Blume, long an ally of the family that
controls a majority of Volkswagen voting rights. The change in
leadership shouldn't come as a surprise, but it is happening at an
unfortunate time for the auto group, according to Jefferies
analysts. Stifel analysts said that in light of the company's
leadership issues, the change represents an opportunity for the
company. Dow Jones & Co. owns Factiva.
(pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
July 25, 2022 06:22 ET (10:22 GMT)
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