FRANKFURT — Volkswagen Group CEO Herbert Diess received a contract extension under which he will lead the automaker until October 2025.
Diess will remain in his post until his 67th birthday, VW said in a statement on Friday.
Diess and his management team “have worked with employee representatives to successfully advance the transformation of the group over the last few years,” VW Group Chairman Hans Dieter Pötsch said in the statement.
Under the leadership of Diess “conditions will be optimal for the continued successful development of the entire company in the coming years as well,” Pötsch said.
Diess’s contract extension was made possible by the recent departure of labor leader Bernd Osterloh. The pair had frequently clashed over strategy.