Tags: volkswagen | replace | ceo | management | overhaul

Volkswagen May Replace CEO in Management Overhaul

Volkswagen May Replace CEO in Management Overhaul
(Tomislav Stajduhar/Dreamstime)

Tuesday, 10 April 2018 08:51 AM

Volkswagen could replace its Chief Executive Matthias Mueller as part of a broader overhaul of its management structure to boost efficiency, it said on Tuesday.

Two people close to the matter told Reuters that Volkswagen, still struggling to put its emissions scandal behind it, was set to name VW brand chief Herbert Diess as his successor.

Europe's largest automotive group has been pondering steps to become more nimble, including carving out truck operations via a stock sale, as it spends billions of euros on electric cars and new mobility services.

"Volkswagen considers a further development of the management structure of the group which would also be associated with personnel changes in the board of management," VW said.

CEO Matthias Mueller has expressed his general willingness to participate in the changes, VW said, but added that it was still open whether efforts to develop a new leadership structure would lead to replacing him.

Two months ago, sources close to the top management of VW told Reuters that Mueller was growing frustrated with a lack of support for his reform efforts and by the company’s inability to draw a line under its emissions scandal.

The contract of 64-year-old Mueller, who took the reins at VW a week after its "dieselgate" emissions test-cheating scandal was revealed in September 2015, runs out in 2020.

Volkswagen declined to comment on whether the board was poised to name Diess as new CEO.

Two people close to the carmaker said that VW's supervisory board is due to meet on Friday, also to discuss efforts to pave the way for the IPO of VW's truck and bus division.

Chairman Hans Dieter Poetsch is currently in talks about changing the structure with fellow supervisory board members and members of the management board, VW said.

© 2019 Thomson/Reuters. All rights reserved.

   
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Volkswagen could replace its Chief Executive Matthias Mueller as part of a broader overhaul of its management structure to boost efficiency, it said on Tuesday.
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2018-51-10
Tuesday, 10 April 2018 08:51 AM
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