By Kim Richters

Volkswagen AG said Friday that Chief Executive Officer Herbert Diess will leave the car maker's management board effective Sept. 1.

Mr. Diess will be succeeded as chairman of the management board by Oliver Blume who is and remains management board chairman at the car maker's sports-car brand Porsche AG, Volkswagen said.

Arno Antlitz, who currently is chief financial officer of the company, will take on the additional role as chief operating officer, the German car maker said.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

July 22, 2022 12:27 ET (16:27 GMT)

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