VW's Diess Goes From Lame Duck to Top Dog in Two Years

11 April, 2018, 17:03 | Author: Natasha Holloway
  • VW could make change at CEO by end of week as part of management reshuffle

VW has considered listing its trucks business, creating a premium cars division and selling off motorbike brand Ducati, but such reforms attempted by CEO Matthias Mueller have been thwarted by turf wars and opposition from the company's labour leaders.

"It is now open whether the considerations and discussions will lead to a further development of the management structure or to personnel changes in the Board of Management of Volkswagen Aktiengesellschaft".

Supervisory board chief Hans Dieter Poetsch had been "speaking with different members of the supervisory and executive boards" about moving or replacing some of them, it went on, adding that Mueller "signalled he was open to play a part in the changes".

According to German newspaper Handelsblatt, which first reported the shakeup, Muller is to be replaced by Herbert Diess, who now heads up the Volkswagen brand.

His departure will test the ability of Volkswagen's stakeholders, which include the Porsche and Piech families, the German state of Lower Saxony, and the company's powerful labour representatives, to unite behind a new boss.

Predecessor Martin Winterkorn fell victim to the company's scandal over cars rigged to cheat on diesel emissions tests.

Weightlifter suffers horror injury at Commonwealth Games
Wallwork had controversially claimed: "A man is a man and a woman is a woman and I know a lot of changes have gone through". The Commonwealth Games Federation chief executive, David Grevemberg, has said that Hubbard had passed requirements.

Diess is due to outline the group's new leadership structure in front of the supervisory board on Friday, two sources said. Since admitting to the scandal, VW has paid out nearly €25 billion in fines, compensation, recalls and refits.

"Diess will hold both positions, CEO of the company and the VW brand", a source familiar with the talks told Reuters on Wednesday.

The company said in its statement on Tuesday that it was considering changes to its complicated management structure.

VW claims to be the world's largest carmaker.

Germany's dpa news agency, Handelsblatt business publication and national daily newspaper Bild reported that Mueller would be replaced by Diess, a former BMW executive who joined Volkswagen in 2015.

A VW spokesman could not immediately be reached for comment on the expected promotion of Diess. The works council, whose members occupy half the seats on the supervisory board, also declined comment.

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