Economy, Auto
0

Volkswagen to Replace CEO

Volkswagen to Replace CEOVolkswagen to Replace CEO

Volkswagen plans to replace CEO Matthias Mueller as the German automaker takes another step to move past the lingering effects of its 2015 diesel emissions scandal, according to sources familiar with the automaker’s plans. Mueller will be replaced by Herbert Diess, who currently runs the Volkswagen brand, CNBC has learned. Diess, 59, joined Volkswagen in July 2015, after previously working at BMW.  Volkswagen issued a statement saying, “.The Chairman of the Supervisory Board of Volkswagen is currently in discussions with certain members of the Supervisory Board and of the Board of Management. Matthias Muller showed his general willingness to contribute to the changes.” Mueller’s departure represents an attempt to make a clean break from the diesel emissions scandal. While Mueller was never charged or formally linked to the scheme to rig the emissions of certain diesel engines, there has been plenty of speculation in Germany that Mueller and other executives were slow to act as the public started to learn about the scandal. Those questions, along with Mueller’s inability to lay out a clear vision for Volkswagen’s future, have been two issues hurting his tenure as CEO.

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com