Volkswagen Set To Promote Diess To Replace Mueller As Boss In Shake-Up

Volkswagen Set To Promote Diess To Replace Mueller As Boss In Shake-Up

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

Volkswagen Group says it is contemplating a management reshuffle that raises questions about CEO Matthias Mueller's future with the company.

On the basis of these considerations, the chairman of the supervisory board of Volkswagen is now in discussions with certain members of the management. Diess joined VW from German rival BMW AG in mid 2015, shortly before the scandal erupted publicly.

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

Europe's largest automotive group has been pondering steps to become more nimble, including carving out truck operations via a stock sale, as it spends billions of euros on electric cars and new mobility services.

"It is now open whether the considerations and discussions will lead to a further development of the management structure or to personnel changes", VW said in the statement.

The 2019 Camaro Unveiled: 3 Things You Need To Know
LS and LT models get red lenses, while RS, SS and ZL1 models feature a "dark-tinted, neutral-density" (read: clear-ish) treatment. Inside, the package includes a sueded flat-bottom steering wheel and shift knob and optional Recaro sports seats.

Tony Finau's ankle injury looks gruesome after top-10 Masters finish
An eagle would have earned him a pair of crystal glasses from his first appearance in the Masters . Jordan Spieth birdied five straight holes beginning at the 13th on the way to a 6-under 66.

Seth Meyers' wife has baby in lobby
The baby is coming.' I'm just trying to calm her down.I'm like, 'Look, no, ' because I've been through exactly one birth". While thanking his wife for her incredible strength and poise, the host began to tear up and stopped himself.

"Mr Matthias Müller showed his general willingness to contribute to the changes", the statement added.

A former chief executive of VW subsidiary Porsche, he was brought in to replace long-time CEO Martin Winterkorn at the height of the dieselgate scandal in late 2015. As the executive overseeing VW's biggest unit, he has routinely butted heads with powerful labor leaders as he has sought to cut costs and simplify the carmaker's byzantine structure.

The management upheaval contrasts with a strong operating performance at the carmaker which previous year posted record auto sales and profit. Porsche said in a separate release that any changes at VW would be reflected in its management.

Volkswagen chose not to comment on Handelsblatt's information.

VW (vlkay) said in a statement earlier on Tuesday that Chairman Hans Dieter Poetsch is now in discussions with top executives and supervisory board members about management board changes and that Mueller, 64, has "showed his general willingness to contribute to the changes". The works council, whose members occupy half the seats on the supervisory board, also declined comment.

Related News:

  • Today marks 20 years since Good Friday Agreement

    Today marks 20 years since Good Friday Agreement

    Sinn Fein Leader Gerry Adams and Chief Negotiator Martin McGuinness. "That's going to be totally and absolutely disastrous". Now more than ever, we need to see the restoration of devolution and the power sharing Executive in Northern Ireland .
    Mega Man X Legacy Collection Coming to the West This Summer

    Mega Man X Legacy Collection Coming to the West This Summer

    A new X Challenge mode that will put X against two bosses from various games at once will be included with the collection. And also explains the rise of the Mavericks and the drama that lead to Mega Man X as a series.
    BSP repaints saffron BR Ambedkar statue in UP to blue

    BSP repaints saffron BR Ambedkar statue in UP to blue

    It led to protests in the area and the administration replaced with another status of Ambedkar brought in from Agra. Several buildings in UP capital Lucknow have been painted saffron since Yogi Adityanath came to power in 2017.
  • India records lowest crude oil production in 7 years - PPAC

    India records lowest crude oil production in 7 years - PPAC

    West Texas Intermediate crude futures were at $63.81 a barrel, up 39 cents, or 0.6 percent. Prices fell 2.3 per cent to US$62.06 on Friday, the lowest close since March 19.
    Driving Distracted? RPD is Watching

    Driving Distracted? RPD is Watching

    Distracted driving is defined as any activity that could divert a person's attention away from the primary task of driving. During the three-day campaign across the state, from April 2-5, officers report they issued 1,816 citations.
    Vevo, YouTube Hacked, Top Music Videos Affected

    Vevo, YouTube Hacked, Top Music Videos Affected

    Vevo's YouTube account appears to have fallen victim to hackers today, as a number of high-profile music videos have been defaced. This was first shared on The Hacker News which now has a thread with the latest updates on the YouTube hack.
  • China-made Ford Focus revealed ahead of exports to U.S.  next year

    China-made Ford Focus revealed ahead of exports to U.S. next year

    The 1-litre EcoBoost petrol comes with 85PS, 100PS and 125PS outputs while the 1.5-litre EcoBoost pumps 150PS and 182PS. There's also a range of new EcoBlue diesels - two 1.5-litre cars with 94bhp or 118bhp and a powerful 148bhp 2.0-litre.
    Anthony Martial set to leave Manchester United after rejecting new contract offer

    Anthony Martial set to leave Manchester United after rejecting new contract offer

    Notably, Bouhafsi was the first man to break the news that Martial would join United in the summer of 2016. Whether or not Mourinho cares if Martial leaves, however, is another question.
    Sereno wants SC to act on petition vs. 5 'biased' justices

    Sereno wants SC to act on petition vs. 5 'biased' justices

    He claimed that Sereno is unlawfully holding her post because she did not fully disclose her wealth. She said the conversation mentioned by Sereno did not happen and she will prove it.
  • (NYSE:MRK)'s stock rallied 6.2% on Monday?

    (NYSE:MRK)'s stock rallied 6.2% on Monday?

    Looking out over a next 5-year period, analysts expect the company to see its earnings go up by 5.51%, annually. ( NYSE : MRK ). Finally, Signature Financial Management Inc. lifted its position in shares of Merck & Co., Inc.by 13.1% during the 3rd quarter.
    Post semi-nude protest, Tollywood actress Sri Reddy's membership plea rejected

    Post semi-nude protest, Tollywood actress Sri Reddy's membership plea rejected

    She has said she is even ready to kill herself in front of the Telugu Film Chamber of Commerce if her demands were not met. The actress claimed filmmakers asked her to send nude photos and videos as a precondition for roles in their movies.
    Bills' Incognito says he's retiring because of health issues

    Bills' Incognito says he's retiring because of health issues

    Most Dolphin fans will remember Incognito for the bullying scandal that happened in 2013. "I just want to be in the Hall of Fame". The Buffalo News' Vic Carucci reported that Incognito, 34, has already informed the Bills that he is retiring.


Most liked

Zidane Includes Academy Midfielder In Real Squad Ahead Of Juventus Clash
If you ask me, I have more motivation than I can ever keep in mind to win the league. "It is what this club has". "The great players of the past are Real Madrid's main assets", he said.

Institutionals Holders Overview For Exxon Mobil Corporation (XOM)
Howard Weil upgraded ExxonMobil from an "outperform" rating to a "focus list" rating in a research note on Friday , December 22nd. It's up 0.93, from 0.57 in 2017Q3. 122 funds opened positions while 542 raised stakes. (NYSE:TSS) was sold by WEAVER DORENDA K.

BP teams up with Tesla to venture into battery storage for windfarm
In related news, VP John Douglas Field sold 1,000 shares of the business's stock in a transaction dated Thursday, February 15th. Finally, Tigress Financial reissued a "hold" rating on shares of Tesla in a research report on Thursday, December 21st.

Supermarket Giant Iceland Bans Palm Oil From Own-Brand Products
Therefore eliminating palm oil might lead to the use of more land with higher risks of deforestation ". It has already been replaced with alternatives such as sunflower oil and butter in half of them.

BHP Billiton share price: Societe Generale turns bullish on miner
Active investors purchase investments and continuously monitor their activity in order to exploit profitable conditions. When shares are trading near the 52-week high or 52-week low, investors may be on the lookout for a breakout.

Overconfidence is unsafe - Valverde sounds Roma warning for Barcelona
The highly rated Kostas Manolas will once again be in charge of keeping Lionel Messi quiet, despite conceding in the first leg. But Valverde has insisted his side must be cautious about Dzeko, with the Bosnian striker scoring at the Camp Nou last week.

Top homeland security aide resigns day after Bolton starts
Bossert was a point person in the White House on protecting the nation from terror and cyber threats. He has also served as a top White House adviser on cybersecurity issues and natural disasters.

Huawei's P20 Pro is harder to fix than Apple's iPhone X
However, despite the company focusing nearly entirely on new camera technology, the Huawei P20 Pro may just have them beat. A teardown by iFixit gave the Huawei P20 Pro a repairability score of four out of 10, with 10 being the easiest to fix.

Louisiana students show mixed outcomes in 'Nation's Report Card'
It examines academic performance for fourth and eighth graders, which are considered key benchmark points in student education. Across the country, this year's results showed no progress toward closing the race and income gaps, federal officials reported.

TJ Miller Called the Authorities Instead of Deadpool on a Bomb Threat
The 36-year-old actor is accused of "intentionally conveying to law enforcement false information about an explosive device ". The FBI docs say Miller's false report caused 926 man hours worth of delays and disrupted several bomb squads in CT and NY .

'Bumblebee' writer Christina Hodson takes over 'Batgirl' after Joss Whedon's exit
There have been many Batgirls, but the most famous is Barbara Gordon, daughter of Gotham City police commissioner James Gordon . Hodson wrote the Denise Di Novi-directed Warner Bros. thriller Unforgettable starring Rosario Dawson and Katherine Heigl.

CWG 2018: Sachin Chaudhary wins India's first medal in para
In the women's 400m women's semifinals, the 18-year-old Hima qualified for the final with a personal best of 51.53 seconds. Nigeria's Abdulazeez Ibrahim won the gold with 191.9 points while the silver went to Malaysia's Yee Khie Jong (188.7).

Not going to Coachella? You can still watch Beyoncé perform
Beyoncé was initially booked to perform the festival in 2017 but due to her pregnancy, was forced to reschedule it to this year. Every year, the mega-festival delivers a diverse lineup that brings fans of all types together-and 2018 is no exception.

Celebrate National Library Week, with La Salle kickoff event set for Wednesday
The first clue -- "Call me Ishmael" to find this whale of a tale -- isn't so hard, Denne admits, but they do get more complicated. Although they don't usually linger on our new bookshelf for very long, there's always something fresh at the library.

Asia Cup cricket shifted from India to UAE
Despite being moved to the UAE , the tournament would still be considered a home series for India. Pakistan will also host the Annual General Meeting, the next one set to be held later this year.