Volkswagen CEO could be out in shock management shakeup

VW could make change at CEO by end of week as part of management reshuffle

Matthias Mueller, who was brought in following the diesel emissions scandal in September 2015, has "showed his general willingness to contribute to the changes", according to a company statement.

Chairman Hans Dieter Poetsch is now in talks about changing the structure with fellow supervisory board members and members of the management board, Volkswagen said.

Last month, Mueller said that chief executives of big companies deserved high pay because "one always has one foot in jail".

The approach would test for Alzheimer's based on a few known biomarkers, and recognise that the disease runs on a spectrum that takes root long before symptoms appear, sometimes for decades.

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"It is now open whether the considerations and discussions will lead to a further development of the management structure or to personnel changes in the Board of Management", it said. The supervisory board will reportedly vote on the change in top leadership at a meeting on Friday.

However, according to information obtained by German Handelsblatt via group circles, Müller will have to go, and his successor is said to be Dr. Herbert Diess, now the CEO of the Volkswagen brand.

Since then, Diess has worked to overcome the reputational damage from the emissions cheating scandal, as well as to cut costs and increase profits at the core Volkswagen brand.

News of replacing Mueller moved shares upward.

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Diess and Mueller instead agreed to guarantee VW's German jobs until 2025 to get labour approval for a plan to turn the carmaker into a mass producer of electric cars.

Volkswagen Chief Executive Officer Matthias Mueller has won wide praise for steering the carmaker through the near-death experience of cheating on diesel-emissions testing - but that wasn't enough to keep him in the job.

"Investors will like his strong execution track record and his understanding of mobility 2.0", Evercore ISI analyst Arndt Ellinghorst said, referring to a shift away from vehicle ownership to alternatives like car-sharing. Other potential CEO candidates include Volkswagen's trucks chief and Daimler veteran Andreas Renschler.

Volkswagen chose not to comment on Handelsblatt's information. The company declined to comment further.

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