• News
  • Business

Volkswagen Says Considering Board 'Changes', May Name New CEO

Volkswagen Says Considering Board 'Changes', May Name New CEO

The 64-year-old Mueller, always a reluctant CEO who had grown tired of the regular grillings by board members, responded during the talks by signaling he was prepared to step aside, they said.

A VW spokesman could not immediately be reached for comment on the expected promotion of Diess.

The decision seems popular among shareholders and market forecasters, given that the price of Volkswagen shares increased by 4.5% on the German stock market.

Mueller's likely departure comes two days after Deutsche Bank, another pillar of corporate Germany, dismissed its chief executive, John Cryan, in pursuit of a more rapid turnaround following years of losses.

Mueller has been a part of the Volkswagen Group since 1984 when he joined Audi's IT department. As the executive overseeing VW's biggest unit, he has routinely butted heads with powerful labor leaders as he has sought to cut costs and simplify the carmaker's byzantine structure.

"I don't see an obvious trigger that would have prompted this", said Christian Ludwig, an analyst at Bankhaus Lampe. Predecessor Martin Winterkorn fell victim to the company's scandal over cars rigged to cheat on diesel emissions tests.

Google should not be in the business of war: Google employees
Google itself has described its work on the project as involving only non-offensive uses of AI. Cook said Tuesday morning in an email to staff members obtained by The New York Times .

After-tax profit rose to 11.6 billion euros ($14.3 billion) past year, on sales of 230.6 billion euros.

VW claims to be the world's largest carmaker.

None of these behind-the-scenes deliberations were apparent from VW's surprise release that was as short as it was cryptic when it landed on Tuesday afternoon. Chairman Hans Dieter Poetsch is leading the process and Mueller has "showed his general willingness to contribute to the changes", the company said.

Karlheinz Blessing, member of the Board of Management of Volkswagen AG with responsibility for "Human Resources and Organization" attends Volkswagen AG annual news conference in Wolfsburg, Germany, April 28, 2016. Porsche said separately any changes at VW would have a knock-on effect for it.

Sources close to the board have told Reuters Mueller has become frustrated with the lack of support for his plans to reform the company.

Leave Your Comment

Leave Your Comment


Latest News

  • Saudi Air Defenses Intercept 3 Houthi Ballistic Missiles

    Saudi Air Defenses Intercept 3 Houthi Ballistic Missiles

    The missiles were directed towards the capital Riyadh and cities of Jizan and Najran. In retaliation, the Houthis have launched dozens of missiles at the kingdom.
    'LEAGUE 1 QUALITY' - Chelsea fans DESTROY Blues star after woeful performance vs

    'LEAGUE 1 QUALITY' - Chelsea fans DESTROY Blues star after woeful performance vs

    With West Ham stepping back off the front foot during a more relaxed second half, they remained the superior side in the contest. Thibaut Courtois is fit to start in goal, so Willy Caballero is a substitute.
    These are the Central American migrants crossing Mexico in a caravan

    These are the Central American migrants crossing Mexico in a caravan

    She noted that women who are part of the caravan praised it as a much safer alternative to traveling alone or with smugglers. Caravans like this one are common as an attempt to raise awareness, but they exist apart from the regular flow of migrants.
  • Former Michigan State University Basketball Players Accused Of Rape

    Former Michigan State University Basketball Players Accused Of Rape

    They had returned from playing in the NCAA tournament, according to the lawsuit, having lost to Duke University in the Final Four. The MSUCC staff allegedly did not advise the alleged victim to seek STD or pregnancy testing, physical exam or medical treatment.
    The Undertaker returns at WWE WrestleMania!

    The Undertaker returns at WWE WrestleMania!

    The Deadman left his trademark trench coat and hat in the ring as the show went off the air in emotional scenes. Elias performed a song in the ring, but Cena cut him off and delivered an Attitude Adjustment on Elias.
    Battling Kenya take silver at Hong Kong Sevens

    Battling Kenya take silver at Hong Kong Sevens

    Kenya Sevens have beaten New Zealand to cruise to the final of Hong Kong Sevens where they will face Fiji in title decider. South Africa claimed the bronze medal after beating New Zealand 29-7 while Argentina beat US 14-12 to secure fifth.
  • Francia, Usa e Gran Bretagna pronte ad attaccare la Siria

    Francia, Usa e Gran Bretagna pronte ad attaccare la Siria

    Per ben quattro volte i jet russi lo hanno sorvolato a bassa quota , compiendo azioni di disturbo. Preparati Russia perchè arriveranno belli, nuovi e intelligenti .
    VirnetX shares surge as jury says Apple infringed patents

    VirnetX shares surge as jury says Apple infringed patents

    Bloomberg reports that a grand jury found Apple guilty of infringing on patents related to secure communications. A recent jury awarded $302M in a case involving older Apple devices; a judge increased that amount to $429.7M.
    Lacazette brace as Arsenal thrash CSKA Moscow

    Lacazette brace as Arsenal thrash CSKA Moscow

    Arsenal survived a brief scare before easing past CSKA Moscow with a 4-1 Europa League quarter-final first leg at the Emirates Stadium .
  • Malcolm Turnbull loses his 30th consecutive Newspoll

    Malcolm Turnbull loses his 30th consecutive Newspoll

    Education Minister Simon Birmingham said it is possible to turn the polls around, citing the recent South Australian election. Mr Rudd wrote that both Mr Turnbull and Mr Shorten would be "long gone" if the same standards had been applied to them.
    Father Reunited with Missing Daughter After 24-Year Search

    Father Reunited with Missing Daughter After 24-Year Search

    However, last year, a police sketch artist chose to help the family by drawing a picture of what Qifeng may look like as an adult. In 1994, Wang Mingqing and Liu Dengying were selling fruit at a busy stand in the city of Chengdu with their daughter Qifeng.
    Snapchat finally reveals the iPhone X lenses it promised months ago

    Snapchat finally reveals the iPhone X lenses it promised months ago

    You can go ahead and grab the updated version of the Snapchat application from the official AppStore 's page for the iPhone X . It will also artfully blur the background using a technique called bokeh, which is familiar from the iPhone's Portait Mode.
  • Media watchdog accuses Israel of 'deliberate shooting' of journalists in Gaza

    Five Israelis - three settlers and two soldiers - were killed by Palestinians in the West Bank during the same period. No Israelis were injured on either day and the latest deaths have sparked fresh calls for an investigation.
    World Health Day marked

    World Health Day marked

    World Health Day will shine a spotlight on the need for Universal Health Coverage (UHC) - and the advantages it can bring. A person devoid of anger and frustration is also free from psychosomatic disorder, he added.
    Woods driving well, birdies 3rd hole at Masters

    Woods driving well, birdies 3rd hole at Masters

    We used to play The Open, and we would play in about two hours and 20 minutes or two hours and 25 minutes", Nicklaus said. But a hole in one from six-time masters victor Jack Nicklaus' grandson, Gary junior, which brought down the house.
  • Donovan Mitchell broke record for most three-pointers by a rookie

    Donovan Mitchell broke record for most three-pointers by a rookie

    We're happy to offer an exclusive look at Episode 4 of Mitchell's short-form digital docu-series, "Rookie On The Rise". On the other hand, Utah Jazz rookie shooting guard Donovan Mitchell has exceeded even the loftiest of expectations.
    Officials of 2 Koreas discuss setting up hotline

    Officials of 2 Koreas discuss setting up hotline

    But Pyongyang has affirmed Kim's willingness to put the denuclearisation of the Korean peninsula on the table, the sources said. Both sides have met several times in a third country to determine a location for the historic summit, USA officials told CNN .
    Markets close flat, Sensex above 33600-mark

    Markets close flat, Sensex above 33600-mark

    Consequently, Nifty closed flat at 10,332, while the Sensex settled with a slight gain of 30 points, or 0.09 per cent, at 33,627. The tension could also be felt on the Chinese yuan, which suffered its biggest daily fall versus the dollar in two weeks.

Breaking News



Recommended

No ball: Cauvery protests flush IPL out of Chennai

CSK still have six home games to play with all fixtures still set for their original dates. Dhoni was not considered, he said: "It was not in the list given to us by the Board".

Facebook users still waiting on privacy scandal notices

That's why I've asked Chairman Thune to haul Cambridge Analytica in to answer these questions at a separate hearing. In the testimony, Zuckerberg acknowledges that the questioning will likely be critical.

Russian Federation warns against snap judgments on alleged Syria chemical attack

President Donald Trump responded to this weekend's alleged chemical attack on Monday in a press pool, striking an aggressive tone. An American official said the USA was discussing with allies whether they would participate in a retaliatory strike.

If I come out of retirement, it'll be for a UFC fight

However, one thing that Mayweather made abundantly clear was that if he does eventually fight again it definitely won't be boxing. Mayweather did not specify who he would want to fight, but UFC star Conor McGregor would be the biggest bout.

Twitter Calls Trump A 'Coward' For Ditching Correspondents' Dinner

Both Obama and that year's host , Seth Meyers, tore into Trump with a series of scathing jokes from the dais. Trump skipped last year's dinner as well, becoming the first sitting president to do so in over 35 years.

Nadal Downs Zverev To Force Decider

Belgium, who are playing without world No 10 David Goffin, do not have a player ranked in the top 100 in their line-up.

Process to buy 110 fighter planes for IAF takes off

The Indian Air Force was keen on a follow-on order of 36 additional Rafales but the government is yet to take a decision on it. The NDA Government finally scrapped the proposed deal in 2014 and opted for buying 36 Rafales off the shelf from France.

Four civilians dead in air raids on Syria's rebel Douma: monitor

The Observatory also said that the Russians promised the rebels that once they hand over their weapons, airstrikes would stop. United Nations spokesman Stephane Dujarric said the renewed outbreak of fighting in Douma "is of great concern to us".

U.S. hiring slows in March, but job market still looks healthy

But retail businesses shed 4,000 jobs and construction companies lost 15,000 workers after going on a hiring spree in February. The civilian labor force participation rate fell 0.1 percentage point to 62.9%.

Max Holloway Declared Medically Unfit to fight Khabib Nurmagomedov at UFC 223

Former UFC heavyweight champion Brock Lesnar headlines 'Mania. "My leafs might change color, but my roots are the same". Many expected Felder and Pettis to get matched up as a result, but are both off the card, as they're teammates.