Volkswagen CEO Herbert Diess to step down, Porsche CEO to succeed him

Herbert Diess, the Volkswagen CEO who was caught up in the automaker's emissions-cheating scandal, will step down "by mutual consent" on September 1, Volkswagen announced on Friday. He'll be succeeded by Porsche CEO Oliver Blume, who'll retain his current position too. Diess had earlier reportedly clashed with Volkswagen's labour representatives over issues including top personnel decisions.