VW's Diess Goes From Lame Duck to Top Dog in Two Years

Volkswagen CEO Matthias Mueller. AP

Volkswagen CEO Matthias Mueller. AP

Europe's largest auto maker is poised to replace Mueller this week with VW brand chief Herbert Diess, seeking to inject fresh impetus to its recovery from an emissions scandal. The 64-year-old Mueller's contract is due to run until 2020.

To ensure Diess gets backing for his plans, Volkswagen's (VW) supervisory board will seek to replace personnel chief Karlheinz Blessing with a works council executive, Gunnar Kilian, who works directly under labour boss Bernd Osterloh, four sources close to VW told Reuters.

The company said in its statement on Tuesday that it was considering changes to its complicated management structure.

Theresa May, Trump not invited to Prince Harry's wedding
Six hundred guests were hosted for a formal lunch and 300 closer friends and family staying on into the evening. Prince Harry and Meghan Markle are going to tie the knot in St George's Chapel at Windsor Castle on May 19.

Mueller has expressed frustration with the pace of Volkswagen's transformation and more recently about his ability to turn around the brand's image following revelations the company had tested toxic fumes on monkeys.

In a statement, the automaker confirmed it was exploring options to reshuffle its management that "could also include a change in the position of the chairman of the Board of Management", which is the German term for CEO. VW said earlier on Tuesday that it was considering a change in the CEO job. The company sold a record 10.74 million vehicles, making it the world's largest carmaker, though the title is disputed by the Renault-Nissan-Mitsubishi alliance, which sold 10.6 million and says Volkswagen is counting trucks that aren't cars.

Mueller's likely departure comes two days after Deutsche Bank, another pillar of corporate Germany, dismissed its chief executive, John Cryan, in pursuit of a more rapid turnaround following years of losses.

14 dead in Canada hockey bus crash
Steven Wilson, a co-worker in Weyburn, Sask., said it was Bieber's first season announcing for the team. "These young athletes. There were 29 people, including the driver, on board the bus at the time of the collision, RCMP said in a release .

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.

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. A VW spokesman could not immediately be reached for comment. Its complex structure has extended to its main shareholder, Porsche Automobil Holding SE, where Volkswagen's chairman serves as the CEO and Mueller also serves as a top executive.

Trump attacks Washington Post, calls it Amazon's 'chief lobbyist'
Is The Stock Safe to Invest? RBC Capital Markets maintained the stock with "Outperform" rating in Friday, October 23 report . As a company has 478.78M shares outstanding and its current share price is $1459.39, the market cap is $675.35B.

Recommended News

  • Brock Lesnar Signs New WWE Contract - Official Details

    Brock Lesnar Signs New WWE Contract - Official Details

    Lesnar's new WWE deal allows for the 40-year-old to compete under the UFC banner while he is also appearing at wrestling shows. It is notably reminiscent to 2015 when Lesnar used rumors of a return to the UFC to negotiate a new WWE deal.
    Facebook has suspended Canadian data firm AggregateIQ

    Facebook has suspended Canadian data firm AggregateIQ

    The two laws require companies get affirmative opt-in permission from every user for every piece of data any company keeps or processes.
    Ben Simmons on Joel Embiid's 'scary' return in playoffs

    Ben Simmons on Joel Embiid's 'scary' return in playoffs

    Not only that, the former No. 1 pick opened up with electric play after electric play in a ridiculous first quarter display. Philadelphia's Ben Simmons recorded his 12th triple-double of the season with 27 points, 15 rebounds and 13 assists.
  • Dozens hurt as bus carrying teens home from spring break hits overpass

    Dozens hurt as bus carrying teens home from spring break hits overpass

    The Nassau County police and the Lakeview Volunteer Fire Department set up a mass-casualty treatment triage and saved lives. New York State Police confirmed 37 suffered minor injuries, five serious and one very serious.
    Cong leaders gobble chhole bhaturas, other delicacies before daylong fast

    Cong leaders gobble chhole bhaturas, other delicacies before daylong fast

    Taking a dig at Gandhi, Patra told reporters that "he can not wake up in morning to start his fast on schedule". The fast was replicated across the country by Congress workers in all state and district headquarters.
    Ronda Rousey's WWE debut at WrestleMania 34

    Ronda Rousey's WWE debut at WrestleMania 34

    Despite Ronda's athletic pedigree, fans were apprehensive about her competing in her very first wrestling match at Wrestlemania . Paying homage to her nickname namesake, the late "Rowdy" Roddy Piper , Rousey rocked a kilt en route to the ring.
  • William and Kate's third baby to be born in St Mary's Hospital

    William and Kate's third baby to be born in St Mary's Hospital

    The exclusive Lindo Wing doesn't come cheap and the Duke and Duchess will fork out more than £5,000 per night for their stay. The signage in South Wharf Road mentions the parking restriction from April 9 to April 30 is for an "event".
    Casualties reported in strike on Syria air base: state media

    Casualties reported in strike on Syria air base: state media

    Security Council will meet twice on Monday following rival requests by Russian Federation and the United States. According to the source, the Syrian air defense systems shot down eight missiles while repelling the attack.
    Prince Charles's wife Camilla not bored at ceremony, insists Commonwealth Games president

    Prince Charles's wife Camilla not bored at ceremony, insists Commonwealth Games president

    Both tried their hands at table tennis, with Camilla joking that she would "leave it to the professionals". Upon arrival, the couple was greeted in Brisbane by Governor-General Peter Cosgrove with a 21-gun salute.
  • YouTube shooter visited gun range before attack, police say

    YouTube shooter visited gun range before attack, police say

    Aghdam's family lives in Menifee , where Federal Bureau of Investigation officials were investigating the family home. San Bruno Police also said that she had visited a local gun range Tuesday morning prior to her arrival at YouTube .

    Two Humboldt Broncos bus crash victims identified

    Condolences and tributes soon poured in across social media, including from his sister on Twitter. Four members of the Swift Current Broncos were killed in a bus crash in Saskatchewan in 1986.
    Apple said to be working on touchless control, curved iPhone screen

    Apple said to be working on touchless control, curved iPhone screen

    The technology could be useful for augmented reality, which is where Apple has put in a lot of effort in the past couple of years. Bloomberg reported that Apple is pushing to apply this non-contact technology to the new iPhone, quoting multiple sources.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.