Thursday, 19 July, 2018

VW board to decide on new HR chief at Friday meeting

Volkswagen has appointed Herbert Diess as CEO Volkswagen names new chief executive in boardroom revamp
Lindsey Cook | 13 April, 2018, 03:50

"The Volkswagen group is considering further evolving the leadership structure, which could be connected with changes in the board. a change to the chief executive could be involved", VW said in a statement. For years, Volkswagen lied through its teeth to regulators and customers both at home and overseas about how clean its diesel cars were.

Passed over for head of BMW in favor of Harald Kreuger, Diess swung over to Volkswagen to pursue a CEO role.

"In a phase of profound upheaval in the automotive industry, it is vital for Volkswagen to pick up speed and make an unmistakable mark in e-mobility, the digitalization of the automobile and transportation as well as new mobility services", the new CEO added.

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.

Reuters reports that Diess and Mueller agreed to guarantee VW's manufacturing jobs in Germany until 2025 in order to get approval from the unions for a plan to turn the carmaker into a mass producer of electric cars.

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Volkswagen Group has announced Herbert Diess will take the top job at the German auto giant as Matthias Mueller steps down after leading the company through the aftermath of the emissions scandal. He's worked since 2015 on welding the commercial-vehicle operations more tightly together to reducing costs by sharing development. That project became much more urgent as the diesel scandal generated massive costs, and meant taking on established interest groups. The company sold 10.74 million vehicles and made 11.6 billion euros in profit.

"Diess will hold both positions, CEO of the company and the VW brand", one of the sources said, speaking on condition of anonymity because of the sensitivity of the subject.

Diess currently heads the firm's namesake Volkswagen division, but now takes over a larger parent company that owns brands including Porsche, Audi, Bentley, Bugatti and Lamborghini. 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.

Volkswagen on Tuesday said Mr Mueller had expressed his general willingness to participate in a management overhaul, and it was still to be determined whether efforts to develop a new leadership structure would leave him in place.

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