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Volkswagen Could Appoint New CEO As Soon As This Friday

Apr. 11, 2018 2:00 PM ET by Martin Bigg Industry News / Comments The VW board will meet to decide current CEO Matthias Muller's fate. The infamous Dieselgate scandal may seem like a distant memory now, but Volkswagen is still feeling the repercussions. In a report published by Automotive News, the German automaker is considering appointing a new CEO to replace Matthias Muller, who stepped in to replace Martin Winterkorn in the midst of the Dieselgate scandal. In a statement, VW said it is considering "a further development of the management structure of the group which would also be associated with personnel changes in the board of management." According to two insiders close to the company, VW's supervisory board is reportedly meeting this Friday to discuss this issue and a possible IPO for its truck and bus division. Muller has shown a "general willingness to contribute to the changes," according to VW. The automaker isn't confirming any specific details just yet, but Reuters reports that VW is planning to appoint Herbert Diess, the head of the Volkswagen brand, as the company's new CEO to replace Muller. Diess is a former BMW executive and joined VW in mid-2015 just before the Dieselgate scandal broke. Mueller, on the other hand, took charge of VW in September 2015, just a week after news of the company's emissions scandal. Mueller's contract isn't due to end until 2020, so it isn't clear why VW is already looking to replace him. According to Reuters, the executive laid out aggressive reform plans for the company, but these were not supported by VW. Mueller failed to sell motorbike maker Ducati last year, for example. Meanwhile, Diess has been pushing for restructuring at the company and has also been a key part of VW's push for electrification. Porsche

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