Volkswagen is poised to replace CEO Matthias Mueller with senior VW executive Herbert Diess, according to numerous media reports on Tuesday. Mueller took over after the German automaker's diesel-emissions cheating scandal erupted in 2015, and he has been credited with putting the company back on track. He has sped up the company's strategy to develop electric vehicles and self-driving cars, and restored strong profits. VW's board, however, is expected to replace Mueller with Diess, VW's brand chief, at a Friday meeting as part of an effort to increase efficiency through changes in the company's management structure. [Bloomberg, Reuters] |
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