Volkswagen names new CEO in sudden shift

13 Abril, 2018, 06:34 | Author: Arnold Perez
  • In this Jan. 15 2018 Volkswagen brand Chairman Herbert Diess speaks at the North American International Auto Show in Detroit. The supervisory board of the German car maker is convening Thursday

The latest results showed that the core VW brand posted sharply increased profits for 2017, even if the costs for dealing with the diesel emissions scandal remained high across the group.

Mr Mueller, a company veteran, was installed at short notice in 2015, a week after the company admitted to cheating United States diesel emission tests, prompting criticism from some investors who said that only an outsider could rebuild trust in the business. Now, he's poised to take VW's top job. The volume group will consist of Volkswagen, Skoda and Seat.

Mueller's replacement with VW brand chief Diess follows slow progress in reorganizing the group's auto brands, a key pillar of "Strategy 2025" to transform the Germany's biggest vehicle company into a leader in cleaner cars and to move on from its diesel emissions scandal of 2015.

"Bringing Herbert Diess' CEO nomination forward is the next step in transforming VW into a more modern and effective company", Evercore ISI analyst Arndt Ellinghorst said in a note.

Volkswagen announced the CEO change on Tuesday in a short and cryptic statement, abruptly ending the reign of Mueller who took over at VW a week after it was plunged into its biggest-ever corporate scandal.

Mr Mueller had been running Porsche before being elevated to replace Martin Winterkorn as VW chief.

The void has been filled by VW's powerful labor unions, which already had significant influence at the carmaker before the "Dieselgate" crisis.

More news: La inflación de marzo fue del 2,3%, según el INDEC
More news: Uber rolls out safety features, including faster 911 calls
More news: Trump signals Qatar crisis u-turn in Emir Tamim meeting

An agreement was made between the automaker's Management Board, plant management, and the worker's council.

Sources close to VW said the controlling Porsche-Piech families and Lower Saxony had decided they could not afford to wait because of the risk of the changes being leaked.

It said chairman Hans Dieter Poetsch will spearhead the transition, and that there is no certainty that personnel changes will in fact occur.

Minnesota will use 20 percent of the money to help pay for cleaner school buses, 35 percent for cleaner heavy duty on-road vehicles like trucks, 15 percent for cleaner off-road heavy equipment, 15 percent for buying new heavy duty electric vehicles and 15 percent for new electric vehicle charging stations.

Tensions flared in recent weeks between Mr Mueller and Lower Saxony's leadership, which is represented on the supervisory board.

Labor leaders opposed Mueller's plans for selling motorcycle maker Ducati and have scuppered other cost cut plans in the past.

The unit, which shares little or no overlap with the manufacturer's other divisions, will change its legal structure to prepare its access to capital markets, VW said in a separate statement.



Death toll from Humboldt Broncos bus crash rises to 16
Lynne Brecht ties ribbons, in the Broncos colours, around trees all over main street Humboldt, Sask., on Wednesday April 10, 2018. National and worldwide support poured out for the families and community affected by the crash.

Scalise: I 'Wouldn't Run Against' McCarthy for Speaker
McCarthy is seen as an affable presence at the House, a hard worker who's accessible to listen to members' considerations. Scalise is viewed as more conservative than McCarthy, important in a House GOP conference that's drifted to the right.

Crown Prince Heads to Spain on Official Visit
He and Macron stated their conflicting views over the Iran nuclear deal , which both Saudi Arabia and the USA strongly criticize. Saudi Arabia leads a foreign coalition backing the Yemeni president who was forced out of office as the war broke out.

Man arrested in pregnant Pakistani singer murder case
Her alleged killer asked her to stand up and dance instead of singing while sitting, Pakistan's Geo TV reported. It was revealed later that she was pregnant at the time.

Baby boy is born four years after the death of his parents
They also had to fight a legal battle as China has no precedent for the parents of couples inheriting their children's embryos. The tot was born after an embryo was placed in a surrogate, following years of legal disputes over whether it could be used.

3 types of information you must never share on social media
So to make them care it's only recently that Facebook has allowed you to download all of the data that they have on you. Silicon Valley wants to make sure young companies get the same chance Facebook has had to put their data to use.

Bill Cosby defense challenges Janice Dickinson
The witness that followed, unfazed by the famous defense attorney, called out her cross-examiner for rolling his eyes at her. As for Allred and the attention she invites, Lasha and Baker-Kinney both said they had neither paid nor been paid by her.

Knicks will reach out to Jay Wright about head coaching job
Yet independent of the Knicks' struggles, the reality is that Hornacek was not hired by their general manager, Scott Perry. He spent six-plus seasons with the team during his 17-year career and is held in high regards by most Knicks fans.

Hamas fighter killed in Israel strike: Gaza ministry
Palestinian rights advocates argued the claims of Hamas affiliation were meant to retroactively justify the killing. The army said the bomb was planted under cover of mass protests along the Gaza-Israel border since March 30.

Threatened: A Green-Haired Turtle That Can Breathe Through Its Genitals
But (t), that's not the oddest thing about this turtle - that distinction goes to its respiratory system. It has a smooth, streamlined, tiresome and unpatterned shell and dark eyes.