German carmaker Volkswagen mulls senior management reshuffle

German carmaker Volkswagen mulls senior management reshuffle

454,000 units were delivered on the continent in the three-month period, a 6% rise compared to the 428,200 figure recorded past year.

Business newspaper Handelsblatt reported that Herbert Diess, head of the VW brand - one of the group's 12 makes of cars, trucks and motorbikes - was slated to take Mueller's place.

"Mr Matthias Müller showed his general willingness to contribute to the changes", the statement added. The announcement comes in the wake of a scandal in which the company was accused of fitting its diesel engines with devices to pass emissions tests.

As of February, VW had spent more than $7.4 billion in buying back about 350,000 vehicles.

"In the end, it's about concrete measures", Weil, who is also a member of Volkswagen's supervisory board, said today at the Future Mobility Summit in Berlin.

But the persistent tug of war between its controlling families, unions and other stakeholders have made it hard to drive through structural changes that investors have said are key to the company fulfilling its potential.

In response to the story, the company issued a statement overnight stating it was considering "potential further development in the management structure in the Volkswagen Group and potential personnel changes in the Board of Management".

VW shares got an additional boost from the reports that it is planning on replacing Mueller.

In tapping the 59-year-old Diess for the top job, Volkswagen would elevate a senior executive from its own ranks, while handing the reins to someone who was not at the automaker when the diesel cheating began. A timeline as to how soon Diess could replace Mueller is unknown.

"If Diess is confirmed as the successor, VW shares will extend their gains", Evercore ISI analyst Arndt Ellinghorst told the publication, who has an "outperform" rating on the stock.

Volkswagen is considering a surprise management shakeup that could include replacing CEO Matthias Mueller.

Volkswagen chose not to comment on Handelsblatt's information.

Volkswagen delivered over 1.5mn vehicles to customers in its first quarter of 2018, breaking the company's record. The works council, whose members occupy half the seats on the supervisory board, also declined comment.

Related News:

  • CMA publishes latest Fox remedies for Sky bid

    CMA publishes latest Fox remedies for Sky bid

    As an alternative to the Disney sale, Fox proposed additional measures to preserve the news channel's independence. Fox had previously proposed giving Sky News its own editorial board and a 10-year funding guarantee.
    Trump Lobs Another Threat at Amazon, Driving Down Ecommerce Giant's Stock Again

    Trump Lobs Another Threat at Amazon, Driving Down Ecommerce Giant's Stock Again

    Trump's tweets could "keep a lid on the stock short term, but long term there's no real change to our positive thesis", he said . The president's tweet also assumes that Amazon would be forced to pay if the Postal Service increased its rates for packages.
    Trump threatens to hold South Korean trade deal hostage

    Trump threatens to hold South Korean trade deal hostage

    If the summit takes place, Kim Jong Un will become the first DPRK leader to set foot on South Korean soil in nearly seventy years. Suga declined to say if a meeting between Prime Minister Shinzo Abe and North Korean leader Kim Jong Un is being discussed.
  • Brazil's Lula Complies With Federal Judge's Arrest Warrant

    Brazil's Lula Complies With Federal Judge's Arrest Warrant

    Over the last four years, Brazilians have seen near weekly police operations and arrests of the elite. The renovation was bankrolled by a company seeking contracts with the state oil giant Petrobras.
    Warnings remain with more rain and snow forecast

    Warnings remain with more rain and snow forecast

    In a Twitter post Sunday morning, the department called out WBZ chief meteorologist Eric Fisher, putting him "on notice". There is a chance a wintry mix may redevelop Monday morning before a chance of showers and thunderstorms Monday night.
    IOC chief says Kim committed to Olympics in Tokyo, Beijing

    IOC chief says Kim committed to Olympics in Tokyo, Beijing

    A North Korean team has participated at every addition of the Summer Olympics since they boycotted Seoul 1988. International Olympic Committee delegation's visit to Pyongyang began on Thursday and finished on Saturday.
  • Saban says

    Saban says "Shop Talk" will continue despite LeBron James complaint

    Let's see how this one plays out, but I'm wondering if the makers of Coming to America are thinking about suing LeBron now... Alabama created a series called " Shop Talk ", with the first episode being released last week.
    Barcelona has doubts about Messi, Busquets against Roma

    Barcelona has doubts about Messi, Busquets against Roma

    We're in the Copa del Rey final, we're well placed in LaLiga and we'll have to see how we get on in the Champions League . Barcelona and Roma have played four games against each other in Champions Leauge history.
    StormTracker 13 Sunday morning forecast

    StormTracker 13 Sunday morning forecast

    A few light showers are possible today as well, however, precipitation chances have been steadily decreasing throughout the week. Morning clouds will give way to drier and cooler weather for Friday Afternoon, with highs closer to 60.
  • India committed to help in development of Nepal: PM Modi

    India committed to help in development of Nepal: PM Modi

    The two leaders jointly inaugurated the Integrated Check Post at Birgunj, after which it was officially handed over to Nepal. The Nepal-China agreements came at a time when Kathmandu-New Delhi ties started soaring after a border blockade in 2015-16.
    Actress Sri Reddy goes for half n**e and protests on road

    Actress Sri Reddy goes for half n**e and protests on road

    According to her statistic, about 90 percent of the women in the film industry would have faced the evils of casting couch. Sri Reddy's public tirade encouraged a few other new actresses, who too claimed to be the victims in the film industry.
    Grainy video could be clue in Washington family's SUV death plunge

    Grainy video could be clue in Washington family's SUV death plunge

    The Columbus Police Department said the 3200 block of 4th Avenue was the last place where Erin Collier, 37, was seen. He said the Harts left Alexandria for OR looking for a change of weather and pace.


Most liked

Stocks bounce back as trade tensions ebb
Technology companies like Apple and Microsoft are recovering some of their recent losses and so are industrial companies. The UK's FTSE 100 Index added 0.2 percent, as did Germany's DAX Index, while France's CAC40 Index increased 0.1 percent.

Trump Predicts China Will Be First to Buckle in Trade Dispute
He added that he and China's President Xi Jinping "will always be friends, no matter what happens with our dispute on trade ". He's got to show he's ready to retaliate against USA trade threats while demonstrating China's commitment to opening up.

Watch Chadwick Boseman Host "Saturday Night Live"
The sketch immediately got rave reviews and dominated the " SNL "-related chatter on Twitter". Of course, T'Challa gets the answer right.

All Signs Point To Apple Inc. (AAPL) Using Own Chips
The move is seen as a strategy to make all of Apple Macs, iPhones and iPads work more similarly and seamlessly together . Intel shares were down more than 7.5 percent to $48.12 in late afternoon trading on the Nasdaq exchange in NY .

Multiple injuries reported as Masters-bound bus crashes
Westbound traffic has since cleared but eastbound traffic is still heavy with single lane traffic being diverted to the shoulder. Neither the GSP nor Gwinnett police have any previous DUIs on record for Hoppenbrouwer. "Major incident here.

Foreign Office accuses Russian Federation of 'diversionary tactic' over Salisbury
Christine Blanshard, medical director at Salisbury District Hospital, said Skripal, 66, was responding well to treatment. Petersburg, while the British Council had to shut down its operations in Russian Federation .

Masters 2018: McIlroy coping with Augusta's unique pressures
McIlroy, who is in search of his first Masters victory, backed up his 69 on Thursday with a hard-earned 1 under 71 on Friday. Finau shot a 68 on Thursday and backed that up with a 74 on Friday and is at 2 under for the tournament . "I feel relaxed.

Trump praises EPA head, is looking into reports
EPA spokesman Jahan Wilcox told ABC News the agency "will respond to Congresswoman McCollum through the proper channel". But he defended his employees, saying with a touch of hubris that they 'serve a very important person'.

Tony Finau will attempt to play The Masters despite dislocating his ankle
Trending today on KRON4's Morning Buzz, Tiger at the Masters , Tony Finau wrecks his ankle and Bubba Watson makes a trick shot. Weirdly, it looks like he pops it back into place while he's laying on the ground, before getting back up and walking it off.

Robert Downey Jr., "Avengers" directors beg fans not to spoil the film
Hot Toys has now revealed an awesome new action figure of Thanos based on his appearance in the upcoming Avengers: Infinity War movie.

Masters is our Super Bowl - Spieth
His quest to better Jack Nicklaus's record of 18 major titles stalled after he grabbed number 14 at the 2008 U.S. But lately, things are on the upswing for the legendary golfer. "But for some reason, I don't have any pain.

How Patriots' acquisition of a another first-round pick could impact Bills
With Julian Edelman sidelined for the season, Cooks put up 65 receptions for 1,082 yards and seven touchdowns. On Tuesday night, the National Football League rumors heated up with reports of a New England Patriots trade.

Trump threatens to send military forces to guard US-Mexico border
Trump's claim about being the first to implement such a decision and place troops at the southern border is inherently false. President Donald Trump announced Tuesday that the U.S. -Mexico border will be guarded with American troops.

SpaceX's recycled rocket and spaceship deliver cargo to ISS
Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. These greens will be harvested and eaten by the crew, with samples also being returned to Earth for analysis, NASA said.

How Conte Reacted To Embarrassing Tottenham Loss
Son was again denied by Caballero but Alli pounced on the pinball inside the Chelsea area before slotting into the bottom corner. It's more about the expectation being so high."Very pleased for Dele because it's been a tough period for him.