Saturday, 22 September, 2018

VW appoints Herbert Diess as CEO, creates new divisions

Volkswagen puts Herbert Diess in the driving seat VW Group ousts CEO, names Diess as replacement, announces restructuring
Andy Castillo | 13 April, 2018, 03:54

Automaker Volkswagen is replacing CEO Matthias Mueller with core brand head Herbert Diess and announcing a new management structure the German automaker said would enable faster decision-making as autonomous and electric cars transform the industry.

Volkswagen replaced Mueller after he failed to refocus the group's portfolio of vehicle brands, a key pillar of "Strategy 2025" to transform the company into a leader in cleaner cars after the diesel emissions scandal of 2015.

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

Mr Mueller, a former chief executive of VW subsidiary Porsche, was brought in to replace Martin Winterkorn. As VW's chief executive officer, "conflict will be part of the program".

Board Chairman Hans Dieter Poetsch said Muller had done "outstanding work" at a time when the company "faced the greatest challenge in its history".

"The way in which changes of such a magnitude were communicated internally is more than questionable", a source close to VW's supervisory board said.

Man Beaten And Robbed, Two Women Charged
Horrified by the development, the woman then narrated the incident to her parents who gave her the courage to approach the police. The two women even celebrated his first birthday together. "I would just say to anybody, don't give up hope.

Despite facing billions in fines, vehicle refits and lawsuits relating to its "dieselgate" scandal, Volkswagen's operating results have been robust under Mr Mueller's watch, with sales and profit hitting record highs past year. Its profit margin climbed to 7.4 per cent of sales a year ago from 6 per cent in 2015, when the crisis hit.

Francisco Garcia Sanz, head of procurement since 2001, was picked by the board in 2015 to oversee the Dieselgate cleanup - he has now left the company too.

Mr Mueller - a veteran of the German auto company - was promoted from his role heading the Porsche division to take the job heading the entire group.

Publicly-listed companies in Germany have two management structures: one consisting of the management board around the CEO and a supervisory board that is made up half-half of labour representatives and members of the capital side to ensure even distribution of interests.

While Mr Mueller is a VW veteran, at times he cuts an uneasy figure in the top job, which required him to manage the often contradictory demands of angry vehicle owners, disgruntled investors, well-organised workers, as well as state officials with their own political agendas. German magazine Der Spiegel was first to report that Kilian could replace Blessing who joined VW in January 2016.

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