Volkswagen Says Considering Board 'Changes', May Name New CEO

Javier Stokes
April 12, 2018

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, VW said in a statement, adding that Mr Mueller "signalled he was open to play a part in the changes".

Volkswagen is expected to make a final decision regarding the future of its top executive in Matthias Muller by the end of the week amidst the company's costly diesel emissions scandal. The company also said that Muller "showed his general willingness to contribute to the changes".

German carmaker Volkswagen told press on Tuesday that the automotive giant is considering far-reaching personnel changes within its senior management.

On the basis of these considerations, the Chairman of the Supervisory Board of Volkswagen Aktiengesellschaft is now in discussions with certain members of the Supervisory Board and of the Board of Management.

It is unclear how soon Diess, a former BMW BMWG.DE executive who joined VW in July 2015 and has clashed with the company's labour leaders, might replace Mueller.

But the persistent tug of war between its controlling families, unions and other stakeholders have made it hard to drive through structural changes that investors have said are key to the company fulfilling its potential.

Senior works council members previous year had their salaries cut and bonuses suspended after public prosecutors investigated alleged overpayments at the carmaker, a move that labor leaders are blaming on Blessing, one source said.

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In the aftermath of the diesel-cheating scandal, Volkswagen has been pushing to overhaul its rigid top-down management structure, delegating more responsibility to its brand and regional chiefs.

VW claims to be the world's largest carmaker.

However, no detail is disclosed by the company.

Since then, Diess has worked to overcome the reputational damage from the emissions cheating scandal, as well as to cut costs and increase profits at the core Volkswagen brand.

A representative of the German state of Lower Saxony, another of the largest shareholders, was not immediately available for comment on the appointment.

German newspaper Handelsblatt first reported that Diess would replace Mueller. About 482,000 were sold in the US, and 11 million around the world.

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