Diess plans far-reaching power grab as new CEO of Volkswagen

13 April, 2018, 03:52 | Author: Natasha Holloway
  • Volkswagen puts Herbert Diess in the driving seat

After nine years there, he moved to Volkswagen in 2015 right before the infamous diesel emission scandal.

Diess was regarded as a potential future CEO when he joined Volkswagen from BMW in July, 2015.

Volkswagen has picked a new leader in a management shakeup to ready the world's largest automaker for a wave of technological change upending the industry's traditional business models.

CEO Matthias Mueller will relinquish his post and will be succeeded by Herbert Diess, who had been serving as CEO of the VW brand and has gained a reputation for cost-cutting at the sprawling company.

Nevertheless, Diess had already secured the support of Osterloh, as well as the Porsche-Piech industrialist family which owns a controlling majority of Volkswagen shares.

Volkswagen named Herbert Diess to replace Matthias Mueller as CEO on Thursday in an overhaul of the German company's management structure.

Mr Mueller had been running Porsche before being elevated to replace Martin Winterkorn.

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Following her arrest, Rochelle said that with her protest she "wanted to express the anger that the victims could not express". Cosby seemed startled by the commotion as protesters chanted at him, but he was not touched and was uninjured.

Granting the truck unit more independence from the larger passenger-car business marks the culmination of efforts by division chief Andreas Renschler.

Other changes before the board include a public stock market listing of VW's truck and bus division, a management board seat for a labour representative and a reorganisation of its 12 brands into four categories, sources said.

"He launched an ambitious reform plan, including investing billions of euros in electric vehicles, but has struggled to push through changes aimed at creating a more efficient and focused company".

VW's statement didn't specify whether the planned changes meant replacing Mr Mueller or simply a shift in responsibilities.

Gunnar Kilian, from the company's works council, becomes group head of human resources, succeeding Karlheinz Blessing, who will be available as a consultant until his contract expires. Porsche sports auto division head Oliver Blume was promoted to the top management body of the entire group. But a replacement of the CEO could also signal that some of the primary shareholders and board members are perhaps unhappy with the direction of the company. He then took charge of development, but was ultimately passed over for the CEO job, when the Munich-based company picked Harald Krueger in December 2014.

On Tuesday, Mueller indicated his "basic willingness to play a part" in possible changes in the firm's leadership after a VW press release announced that the company was mulling changes within its top management echelons.

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