Home Auto Volkswagen will replace Chief Executive Officer Matthias Mueller

Volkswagen will replace Chief Executive Officer Matthias Mueller

41
0

Jakarta -Volkswagen is ready to replace Chief Executive Officer  Matthias Mueller with Herbert Diess, Chairman of the Board of Volkswagen Brand, who seems to be giving new impetus to his company’s recovery from an emissions scandal.

The German automaker said on Tuesday it was considering a change of leadership as part of a broader management improvement, but gave little detail. The 64-year-old Mueller contract expires until 2020.

The move came after Europe’s biggest carmaker was hampered by clashes between its powerful stakeholders, which include Porsche and Piech families, the German state of Lower Saxony, and labor leaders.

Shares of Volkswagen closed up 4.5% to 171.58 euros.

Mueller, a veteran of the company, posted on a short notice in 2015, a week after the company admitted cheating on US diesel emissions tests, prompted criticism from some investors who said that only outsiders can rebuild trust in business.

He launched an ambitious reform plan, including investing billions of euros in electric vehicles, but has struggled to drive changes aimed at creating more efficient and focused companies. Amid the opposition of the labor leader, Mueller failed to sell the Ducati motorcycle factory last year.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.