Volkswagen Replaces CEO Matthias Muller by Mutual Agreement

15 April, 2018, 07:19 | Author: Brenda Erickson
  • VW's Herbert Diess and Matthias Müller

He takes over from Matthias Mueller, who was appointed in 2015 at the height of the diesel emissions scandal.

Mr. Diess has conflicted with associations and is known for his cost-cutting measures.

Hans Dieter Pötsch, chairman of the supervisory board, said the moves are aimed at aligning the company " ... and its brands with future needs; to safeguard its position among the leaders of the worldwide automotive industry with innovativeness and profitability, and to be instrumental in shaping tomorrow's personal mobility with the strength of our group brands".

The administration shake-up signals VW's want to push ahead from the emanations outrage and proceed with its "Technique 2025" plan to construct greener vehicles.

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

Notwithstanding, in May 2017 prosecutors in Stuttgart said they were exploring Mr. Mueller over doubts he may have thought about the diesel tricking before it ended up open.

The "volume" business includes the VW brand, Seat and Skoda.

The appointment of Diess comes as VW investors are demanding for increased profitability.

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VW chairman Hans Dieter Poetsch said in a statement that Mr Mueller had done "outstanding work" for the company.

The plans were announced after Volkswagen board of directors ousted Matthias Mueller as CEO and discussed ways to overhaul the company, which spans motorbikes, buses, trucks and passenger auto brands including Ducati, Bentley, Porsche, Audi, Scania and Skoda.

The company said it was contemplating a management reshuffle and reassigning responsibilities among executives that "could include a change in the position of the chairman of the board of management", the German term for CEO.

Four sources close to VW Volkswagen's (VW) supervisory board will on Friday replace personnel chief Karlheinz Blessing with Gunnar Kilian, managing director of the carmaker's works council who works directly under labour boss Bernd Osterloh.

"Not only did he safely navigate Volkswagen through that time, together with his team, he also fundamentally realigned the group's strategy". Frank Witter will head company IT.

"Bringing Herbert Diess' CEO nomination forward is the next step in transforming VW into a more modern and effective company", Evercore ISI analyst Arndt Ellinghorst said in a note.

Mueller, 64, was head of Volkswagen's richly profitable Porsche division when he unexpectedly was handed the CEO job in September 2015.

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