Volkswagen AG (VWAGY) has removed Herbert Diess as the company's CEO, The Wall Street Journal reported, citing people familiar with the matter. He will step down on September 1. The ouster follows an internal disagreement over the delay in developing core software for electric vehicles (EVs). The Germany-based company had to postpone the launches of a few electric models due to the delay. This raised doubts about Diess’ promise to turn Volkswagen into a top EV maker. Diess joined Volkswagen in 2015 and was named the CEO in 2018. Oliver Blume, the CEO of Volkswagen’s subsidiary Porsche, will succeed Diess.
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