Volkswagen, the world's biggest carmaker by volume, has been saddled with the fallout of a global diesel emissions scandal that emerged in 2015 and led to multibillion-dollar lawsuits in several countries, in particular in the US.
Herbert Diess, chief of the Volkswagen brand, was named to take over as CEO of the company as a whole.
"The range of tasks at group level, with its many brands, legal risks and political influence, makes the new assignment incomparably more complex", Speich said, adding that there is no guarantee reforms would become easier to push through.
Volkswagen Group has ousted CEO Matthias Müller and replaced him with Herbert Diess, previously CEO of the Volkswagen brand within the larger 12-brand corporation.
The 64-year-old Mr Mueller will be replaced before Volkswagen's annual general meeting on May 3, the Bild newspaper said yesterday. The move is part of an effort to reorganize the company to do business more efficiently, the company said.
Volkswagen, which has a history of rocky management handovers, has chose to replace Matthias Mueller, 64, with the 59-year-old Diess, according to people familiar with the matter, who asked not to be identified speaking ahead of an official announcement.
Diess is a former BMW executive who since 2015 has headed the core Volkswagen brand.
Dieselgate has cost VW more than 25 billion euros ($31 billion) in buybacks, fines and compensation, and the carmaker remains mired in legal woes at home and overseas. "Instead of being squeezed out, he has been pushed upward, and has been made CEO".
VW's statement didn't specify whether the planned changes meant replacing Mr Mueller or simply a shift in responsibilities. But a replacement of the CEO could also signal that some of the primary shareholders and board members are perhaps unhappy with the direction of the company. Porsche sports auto division head Oliver Blume was promoted to the top management body of the entire group.
As head of purchasing at BMW, Diess was instrumental in the luxury-car maker's ability to weather the financial crisis by squeezing more than 4 billion euros out of supply costs.
On Tuesday, Mueller indicated his "basic willingness to play a part" in possible changes in the firm's leadership after a VW press release announced that the company was mulling changes within its top management echelons.
Oil marketing companies slumped following reports that the government is asking these firms to absorb price hikes. According to analysts, higher crude oil prices and bonds led to dampening of customer sentiments as well.
Following the talks, the French prime minister gave a luncheon party in honor of the Crown Prince and the accompanying delegation. It is believed that projects include the joint development of apps and educational material between the company and Kingdom.
The Syrian government is blamed for a chemical weapons attack on its own people that the president called an "attrocity". He can work on his relationship with South America later, when he can stomach meeting its leaders.
McArthur has been charged with killing the three men, as well as Selim Esen, 44, Majeed Kayhan, 58, and Dean Lisowick, 43 or 44. Police say they've identified the remains of three people believed to be victims of alleged serial killer Bruce McArthur .
On Monday the Congressional Budget Office said the bill was partially responsible for a large increase in the deficit . But now the Federal Reserve is raising rates, meaning the government's borrowing costs are projected to increase.
Having seen some of Real Madrid's defending in his absence, Zinedine Zidane's side will be praying that is not the case. Ramos will only be punished if his presence was noted and reported by referee Michael Oliver or a UEFA delegate.
It turned negative, as 42 investors sold STT shares while 262 reduced holdings. 176 rose positions while 121 funds took positions. Since October 26, 2017, it had 0 insider buys, and 5 selling transactions for $8.83 million activity. (NYSE:KR) for 2.07M shs.
Meanwhile, Australian Weightlifting Federation CEO Michael Keelan wrote to a number of governing bodies to express his concerns. Samoa's Feagaiga Stowers, 17, took gold on Australia's Gold Coast ahead of Nauru's Charisma Amoe-Tarrant.
According to the study authors, more than 50 million people every year experience a traumatic brain injury. Men with TBI histories developed dementia at a 30 percent rate, while women had just a 19 percent rate.
Because of the $700 & $716 Billion Dollars gotten to rebuild our Military, many jobs are created and our Military is again rich. Building a great Border Wall , with drugs (poison) and enemy combatants pouring into our Country, is all about National Defense.
Loud blasts heard in Saudi capital Riyadh
Saudi Arabia has accused Iran of funding and arming the rebel movement, a charge Iran has denied. Multiple blasts were heard, and plumes of smoke could be seen from the capital.
Man charged in Merrifield assaults
The alleged assault was reported to have taken place at the victim's residence, where Cottrell had been staying. Investigators aren't naming the dating site where the pair met, citing the ongoing investigation, Bough added.
Scott blasts Washington to begin Senate campaign
Democratic political strategist Steve Schale predicted the race would be close and that Trump's popularity could play a role. Nelson later told CNN's Wolf Blitzer Monday afternoon that "there are so many differences" between himself and Scott.
Confirmed Dead After Plane Crashes At Arizona Golf Course
Fourteen ambulances and ten fire engines were dispatched to the area and several bodies were pulled out of the wreckage. It happened on Wednesday morning at Boufarik military airport, an air force base near the capital, Algiers .