Europe's largest car manufacturer pulls the emergency brake and surprisingly separates from its CEO Herbert Diess.
This step triggers a tremor in the industry and at the same time documents the admission that the internally highly controversial manager is no longer capable of a successful mobility turnaround.
In the past, it was the powerful owner families Porsche and Piëch who always held the protective hand over their impulsive CEO when he provoked disputes on the supervisory board, with employee representatives or anyone else.
Missed the last chance
Most recently, they gave Diess the chance to personally whip the strategically crucial software division into shape.
However, after the gap to market leader Tesla did not shrink but grew, the grandees also lowered their thumbs – too late.
This time is wasted.
Porsche boss Oliver Blume should now judge it in a double role.
He won't have much leeway.
Because Herbert Diess has trimmed Volkswagen so much for electromobility as no other classic car manufacturer has done.
The group went “all-in”.
Now the head at the top is gone.
Following the only slight after-hours price reductions, this is bearable.