Wednesday, 19 September, 2018

Volkswagen sets first quarter delivery record, Herbert Diess tipped as new CEO

As Diesel Scandal Fades, VW Is Planning to Replace Its CEO Volkswagen flags potential major management changes
Scott Davis | 11 April, 2018, 17:03

Last month, Mueller said that chief executives of big companies deserved high pay because "one always has one foot in jail".

The holding company Porsche SE also announced in a separate statement changes in its own management structure as a result from a general corporate shake up in the Volkswagen Group.

Karlheinz Blessing, member of the Board of Management of Volkswagen AG with responsibility for "Human Resources and Organization" attends Volkswagen AG annual news conference in Wolfsburg, Germany, April 28, 2016.

With Mueller agreeing to go, the controlling Porsche-Piech clan, the state of Lower Saxony and powerful labor leaders settled on Herbert Diess, chief of the Volkswagen brand, as the successor, the people said.

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.

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.




Shares in Volkswagen jumped on the news, and closed up 4.5 percent at 171.58 euros.

The supervisory board will vote on the change in top leadership at a meeting on Friday, according to people familiar with the matter, who asked not to be identified speaking ahead of an official announcement.

Citing company sources, the German newspaper Handelsblatt reported that Mueller is about to be replaced by Herbert Diess, an executive who now leads the Volkswagen brand. Since admitting to the scandal, VW has paid out nearly €25 billion in fines, compensation, recalls and refits. VW said earlier on Tuesday that it was considering a change in the CEO job.

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.

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 works council, whose members occupy half the seats on the supervisory board, also declined comment.

Recommended

Woman charged with murdering wife, bail set at $3 million Woman charged with murdering wife, bail set at $3 million In addition to 30 days in prison, she will face six years of probation and receive four felony convictions on her record. Samantha Snipes had just left an abusive relationship when she met the woman who would become her son's adoptive mother.

Celebrate 20 Years of HARRY POTTER with Gorgeous New Book Covers Celebrate 20 Years of HARRY POTTER with Gorgeous New Book Covers There are few books from our childhood that we think of as fondly as we do the Harry Potter series. Scholastic released images of the new covers on Tuesday, and they're nothing short of striking.

Google India Said to Appeal CCI's Search Bias Order Google India Said to Appeal CCI's Search Bias Order Since Google has appealed the judgement, it could be until sometime in 2018 before the final outcome its determined. After the February ruling, Google had referred to the issues raised by the Commission as "narrow concerns".

More footage of Tristan Thompson cheating on Khloe has emerged More footage of Tristan Thompson cheating on Khloe has emerged The woman who was responsible for filming the footage told MailOnline: "They were talking and being around each other all night". Khloe is now 9 months pregnant with her first child and it is thought she is in the hospital ready to have her baby today.

Prince Harry, Megan Markle Prefer Charity Donations over Wedding Gifts Prince Harry, Megan Markle Prefer Charity Donations over Wedding Gifts Harry and Markle have selected seven charities, none of which they have direct links to, which they want people to support. Apart from majority of citizens, some well-known names were expected to be invited to the wedding but are not.

National Guard members start arriving at US-Mexico border National Guard members start arriving at US-Mexico border Trump said last week that he would be sending up to 4,000 troops to the southern border until his proposed border wall was built. SC despatched troops to the border all through Operation Soar Start, the border deployment ordered by Bush in 2006.

All Apple facilities now powered by clean energy All Apple facilities now powered by clean energy Dedicated exclusively to Wynn Las Vegas, the Wynn solar facility offsets up to 75 percent of the resort's peak power requirements. A floating solar photovoltaic facility outside Nagoya, Japan producing power for one of Apple's component suppliers, Ibiden.

Prosecution says Cosby settled civil suit for $3.4 million Prosecution says Cosby settled civil suit for $3.4 million How the Cosby case fares in Norristown could have powerful ramifications for other potential prosecutions across the nation. In this case, the jury will also be privy to the amount of money Cosby paid Constand when they originally settled the case.

Shooters, shuttlers, paddlers join India's gold class party at CWG Shooters, shuttlers, paddlers join India's gold class party at CWG India's Gold medal haul shows no signs of slowing down as the country is in third place in the CWG 2018 medals table . Another swimmer who could add to her impressive Gold Coast total is 17-year-old Taylor Ruck.

April 8 #FreePick: What Does Ohtani Mean to the Angels? April 8 #FreePick: What Does Ohtani Mean to the Angels? Josh Fields (1-0) pitched a scoreless ninth for the win and Kenley Jansen struck out three batters in the 10th for his first save. But here we are after his first four games-five when you count his 6-inning debut on the mound-and he's out here turning heads.

Hamilton suffers Bahrain blow with five-place grid penalty Hamilton suffers Bahrain blow with five-place grid penalty Race stewards said that in Sunday's incident the vehicle was released "in a manner endangering team personnel and causing injury". Max Verstappen squeezed Hamilton too hard exiting Turn 1 on Lap 2 and damaged his left-rear wheel, which caused a puncture.

Daniel Ricciardo fastest in Bahrain first practice Daniel Ricciardo fastest in Bahrain first practice Verstappen, though, is hoping that he can at least recover from 15th to fifth. We know that in the race we are still struggling a little bit on this".

Woman accused YouTube of discrimination before gun attack Woman accused YouTube of discrimination before gun attack The other, a man in his 30s, remains in serious condition, according to a hospital statement emailed to NPR on Wednesday morning. A deputy contacted the family several hours after the report was taken but they provided no additional information.

North Korea ready to discuss denuclearization with US North Korea ready to discuss denuclearization with US South Korean emissaries had presented Kim Jong Un's (left) invitation to meet with United States president Donald Trump (right). Ulan Bator, the Mongolian capital, has been also floated as a possible location of the summit, it said.

Huge Odds Shift In MLS Star Appearing At WrestleMania 34 Huge Odds Shift In MLS Star Appearing At WrestleMania 34 Outside of Ronda Rousey and Brock Lesnar, John Cena is likely the most recognizable active pro wrestler in the world. Many consider this a dream match since both of these competitors are regarded two of the best wrestlers in the word.