Sunday, 23 September, 2018

Volkswagen names Herbert Diess as new chief executive

Volkswagen names Herbert Diess as new chief executive Volkswagen names Herbert Diess as new chief executive
Kenneth Drake | 13 April, 2018, 03:53

Mueller "has done outstanding work for the Volkswagen Group", VW said in a statement.

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.

Recommended

  • Cosby accuser's goal is 'money, money and more money' - lawyer

    Cosby accuser's goal is 'money, money and more money' - lawyer

    And she'll tell you she remembers waking up on this sofa with her clothes disheveled at 4 o'clock in the morning. That admission in the settlement led prosecutors to reopen the case against him, leading to these charges.
    'Nigerians love Buhari, he'll be re-elected,' APC boasts

    'Nigerians love Buhari, he'll be re-elected,' APC boasts

    Okpala, who believed that power belongs to God, said that performance and not incumbency would determine the 2019 elections. The President said his decision to re-content was borne out of the " clamour " by Nigerians.
    Oklahoma Highway Patrol thanks teachers participating in walkout

    Oklahoma Highway Patrol thanks teachers participating in walkout

    One group of teacher walked the 100 miles from Tulsa to the capitol in Oklahoma City, to draw attention to their plight. The walkout comes after the West Virginia teachers' strike catalyzed a movement of teachers demanding higher pay.
  • 'Trump was right' McMaster offers troops to patrol Texas border

    'Trump was right' McMaster offers troops to patrol Texas border

    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.
    Sensex, Nifty open higher on hopes of easing of trade tensions

    Sensex, Nifty open higher on hopes of easing of trade tensions

    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.
    Confirmed Dead After Plane Crashes At Arizona Golf Course

    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 .
  • Champions League semi-final draw

    Champions League semi-final draw

    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.
    France hosts visiting Saudi Prince

    France hosts visiting Saudi Prince

    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.
    Kate Middleton's third royal birth: Your guide to the Lindo Wing

    Kate Middleton's third royal birth: Your guide to the Lindo Wing

    The notices, which are up in South Wharf Road , state that parking is suspended from April 9 to April 30 for an "event". A web page ( www.royal.uk/baby ) dedicated to the baby has also been set up on the Royal Family's official website.
  • Bruce McArthur faces new murder charge

    Bruce McArthur faces new murder charge

    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 .
    Scott blasts Washington to begin Senate campaign

    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.
    Messi Hat-Trick Helps Barca Equal All-Time LaLiga Record

    Messi Hat-Trick Helps Barca Equal All-Time LaLiga Record

    It has been quite hard , because of the fact it's an old record that hasn't been broken for a long time ". He's a player who wants to be active because he's the best, but we have to talk after training".

Full Trailer for 'Solo: A Star Wars Story' Kicks into Lightspeed Full Trailer for 'Solo: A Star Wars Story' Kicks into Lightspeed But the money shot comes when we see Han and Chewie stand in front of the iconic Millennium Falcon, probably for the first time. Disney/Lucasfilm dropped an all-new trailer for the film on Sunday, and Clarke most definitely stands out.

Soldier, civilian killed in Kulgam encounter in Kashmir, gunbattle on Soldier, civilian killed in Kulgam encounter in Kashmir, gunbattle on Students in several colleges and universities carried out protests shouting pro-freedom slogans. There were also reports of locals pelting stones on security forces during the encounter.

Champions League: Bayern must be careful against Sevilla - Robben Champions League: Bayern must be careful against Sevilla - Robben They aren't relying on Arjen Robben or Franck Ribery being brilliant, Kingsley Coman has had a very good season. Old Trafford stands as an example and promise of what Sevilla can do, the kind of upset they can cause.

Study highlights link between head injury and dementia Study highlights link between head injury and dementia 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.

Andre Ingram: LA Lakers player makes National Basketball Association debut aged 32 Andre Ingram: LA Lakers player makes National Basketball Association  debut aged 32 Once we went out as a team for warmups, I just felt some electricity out there. "You could feel something in there". He also briefly played in Australia in 2016 before returning to the G League, according to NBA.com .

Man charged in Merrifield assaults 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.

Uber tries to extend reach, DC users can now rent bikes Uber tries to extend reach, DC users can now rent bikes Within the year, users should be able to buy and use tickets within Uber's app, Wired reported . Uber is hardly the first tech behemoth to lay out its vision for the future of transportation.

MI Secretary of State Encourages Organ Donations MI Secretary of State Encourages Organ Donations As representatives of the health sector, registration of potential donors became much more active after Friday's disaster. It now has 900 people on the waiting list.

Real Madrid v Juventus Betting Tips Bayern have already wrapped up their sixth consecutive Bundesliga title and are a goal up here going into the second leg.

United States deficit forecast to hit $1 trillion following tax cuts United States  deficit forecast to hit $1 trillion following tax cuts 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.

Featured Stock for Investors: The Kroger Co. (NYSE:KR) Featured Stock for Investors: The Kroger Co. (NYSE:KR) 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.

Crown Prince MBS: Saudi Will Join Response to Chemical Attack If Needed Crown Prince MBS: Saudi Will Join Response to Chemical Attack If Needed The Kingdom has witnessed rapid change in its policies since the appointment of Crown Prince Mohammed Salman, son of the king and heir to the throne in June.

Trump cancels trip to the Summit of the Americas and Colombia Trump cancels trip to the Summit of the Americas and Colombia 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.

All Apple facilities run by clean energy All Apple facilities run by clean energy It also gives clean energy back to the public grid during periods of low occupancy. Apple's biggest link in the supply chain, Foxconn, has yet to sign up.

'Busted' elbow could end Laurel Hubbard's weight-lifting career 'Busted' elbow could end Laurel Hubbard's weight-lifting career 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.