FRANKFURT -- The appointment of Oliver Blume as the next boss of Volkswagen Group heralds a change in management style that is expected to replace the erratic and unpredictable attitude of his predecessor with a more team-based culture.
A long-time Volkswagen executive who joined the carmaker in 1994, the 54-year-old Blume has hammered home the importance of teamwork and bringing workers into decision-making in nearly every interview he has given -- a contrast to current CEO Herbert Diess' confrontational attitude.
He will become the company’s fourth CEO since 2015, a churn rate that concerns some investors.
“The timing is unfortunate and another illustration of dysfunction at VW,” Jefferies analyst Philippe Houchois wrote in a report. “We have been here before, with new management or a crisis bringing hopes of change.”
Blume, who has been CEO of Porsche since 2015, will replace Diess as VW Group CEO on Sept. 1 while remaining in charge of Porsche, VW said on Friday.