Published: Fri, April 13, 2018
Economy | By Shawn Conner

As Diesel Scandal Fades, VW Is Planning to Replace Its CEO

As Diesel Scandal Fades, VW Is Planning to Replace Its CEO

Prior to joining the Wolfsburg-based automaker in 2015, Diess was BMW's head of development, and is widely credited with slashing costs. A VW spokesman could not immediately be reached for comment.

Matthias Mueller, CEO of the Volkswagen Group, could be replaced by as soon as this Friday, if a report out of Germany proves to be correct.

The news poses more questions than it answers, as VW gave no details beyond a cryptic regulatory filing earlier Tuesday that it was considering a change in the CEO job.

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"I don't see an obvious trigger that would have prompted this", said Christian Ludwig, an analyst at Bankhaus Lampe.

Chairman Hans Dieter Poetsch is now in talks about changing the structure with fellow supervisory board members and members of the management board, Volkswagen said. After serving a number of different positions with in the company, including Audi and Lamborghini product coordinator and Porsche CEO, he assumed his current position at the helm of the overall Volkswagen Group in 2015 when he was put in the position a week after the company admitted to cheating United States diesel emissions tests.

Mueller-was made CEO in September 2015, at the height of the automaker's diesel emissions scandal.

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Volkswagen delivered over 1.5mn vehicles to customers in its first quarter of 2018, breaking the company's record.

Today, Volkswagen Group announced it is considering personnel changes as part of a management reporting the company is seeking to replace current VW Group CEO Matthias Mueller with Herbert Diess, current head of the Volkswagen brand. Porsche said in a separate release that any changes at VW would be reflected in its management.

Including Mueller, VW's management board totals nine people, with responsibilities ranging from purchasing to legal affairs to financing and human resources.

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Volkswagen could look to split into four sections - a mass-market carmaker including its VW, Seat and Skoda brands; a premium business consisting of Bentley and Audi (NSUG.DE); a sportscar group including Porsche, Bugatti and Lamborghini; and a commercial vehicle and trucks arm, the sources said.

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