Volkswagen on Monday named Ralf Brandstaetter as the new CEO of its core Volkswagen car brand, replacing Herbert Diess, who retains his title as head of Volkswagen Group.
The contenders who were expected to succeed Diess as head of the VW brand were Volkswagen’s Chief Operating Officer Ralf Brandstaetter and Porsche Chief Executive Oliver Blume.
In a statement published on Monday, the automaker said Brandstaetter, previously brand chief operating officer, would assume the new role of CEO on July 1.
Diess was appointed head of the Volkswagen brand in 2015 after he left BMW. He became CEO of the brand in April 2018.