Meet Volkswagen group's CEO Herbert Diess

Meet Volkswagen group's CEO Herbert Diess

Among the other changes at the company, Frank Witter will lead company IT and Rupert Stadler will lead group sales.

Shares in Volkswagen closed almost two percent higher to 176.60 euros ahead of the closely-watched board meeting, outperforming the Dax index of leading shares that was up almost one percent.

Mueller, who had headed Porsche, took over from Winterkorn when he resigned because of the scandal in September 2015.

As an outsider who didn't come up through the Volkswagen ranks as did Mueller, Diess must master the company's unique and sometimes unwieldy corporate culture, which includes a major government stakeholder in the state of Lower Saxony and strong employee representation that has tended to hinder cost-cutting. Fallout from the scandal has cost VW an estimated $30 billion over the past two years.

Volkswagen has officially replaced CEO Matthias Muller with its VW brand head Herbert Diess as the automaker implements a new management structure to keep up with the "highly dynamic change" in the industry. Diess will be responsible for Group development and research and will also take on additional Group management roles alongside heading the Vehicle IT.

Upon being asked what could happen to MAN Diesel and Renk, Diess said the company has assets which will be subject to a review. The company also makes cars under the Audi, SEAT, Skoda, Bentley, Bugatti, and Lamborghini brands. "For that, he is due to the thanks of the entire company".

"We will emphatically address the special challenges that lie ahead of us, especially in electromobility, digitisation and new mobility services", he told a press conference at the group's Wolfsburg headquarters.

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He was installed after Mueller's attempts to reshape the automotive group foundered amid labour opposition, including his plans to sell motorbike brand Ducati.

Volkswagen said in a short statement that board of directors Chairman Hans Dieter Poetsch was in discussions with top managers about their duties and that the result of the talks was "currently open".

One sign of the overhaul gaining traction is VW entering the home stretch for a potential share sale in its heavy-truck division, the biggest organizational shift since the aftermath of the diesel-emissions crisis.

The scandal surrounding the Volkswagen associated with intentional understatement of the level of harmful emissions from diesel engines, has erupted in the fall of 2015.

Diess appeared to be on his way out at VW after a public clash with Osterloh who then accused him publicly of breaking promises and unduly pushing cost cuts.

"Back then, we were not immediately on the same page", Osterloh said in his letter.

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