Volkswagen Union Chief Urges Blume to Abandon Dual CEO Role

Deep News09-02

Volkswagen AG's union leader intensified pressure on Tuesday, demanding that Chief Executive Officer Oliver Blume abandon his dual leadership position, according to an internal memo obtained. Blume currently serves as CEO of both the Wolfsburg-based automaker and its subsidiary Porsche AG.

Blume's dual role has drawn scrutiny from shareholders and employees since Porsche went public as an independent entity in 2022. Investors have repeatedly called for him to resign from one of the positions due to corporate governance concerns.

According to the memo, Volkswagen AG's works council chairwoman Daniela Cavallo stated at a staff meeting on Wednesday: "The CEO cannot be a 'part-time boss' in Wolfsburg, spending the rest of his time at Porsche. This situation must end."

Last week, a source familiar with the matter revealed that Porsche has begun searching for Blume's successor.

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