Share Name Share Symbol Market Type
Volkswagen AG XE:VOW XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.85 1.01% 184.90 184.85 185.00 187.00 183.30 186.55 12,075 12:36:34

Volkswagen Shares Drop After Board Replaces CEO Diess

25/07/2022 9:06am

Dow Jones News

Volkswagen (XE:VOW)
Historical Stock Chart

From Jun 2022 to Dec 2022

Click Here for more Volkswagen Charts.

By Kim Richters


Shares in Volkswagen AG tumbled on Monday after the German car maker's decision to replace current Chief Executive Officer Herbert Diess in the midst of the company's shift toward electric vehicles.

The auto maker said Friday that Mr. Diess would step down effective Sept. 1 and be succeeded by Oliver Blume, who is also CEO of Volkswagen's sports-car maker Porsche AG. The departing chief executive had repeatedly clashed with unions and the move comes after renewed internal strife over the slow progress developing core software for the company's new generation of electric vehicles.

Analysts at Stifel said the top-job replacement comes at a bad time as the car maker is preparing the potential stock-market listing of Porsche AG and the fact that Mr. Blume looks set to lead Volkswagen group while also remaining head of the sports-car brand is negative.

"However, in light if the ongoing leadership issues over the past two years and a depressed valuation, we believe this is an opportunity," they say in a research note.

At 0725 GMT, Volkswagen's preference shares were trading 3.2% lower at EUR130.06.


Write to Kim Richters at


(END) Dow Jones Newswires

July 25, 2022 03:51 ET (07:51 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

1 Year Volkswagen Chart

1 Year Volkswagen Chart

1 Month Volkswagen Chart

1 Month Volkswagen Chart
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20221201 12:51:35