Diess plans far-reaching power grab as new CEO of Volkswagen

Volkswagen Lavida Plus

Volkswagen Group has announced Herbert Diess will take the top job at the German auto giant as Matthias Mueller steps down after leading the company through the aftermath of the emissions scandal. Bernd Osterloh, the company's powerful labor leader, balked at negotiating with him during tough contract talks in 2016, but Diess prevailed with a landmark deal that paved the way to cutting as many as 30,000 jobs and saving 3.7 billion euros ($4.6 billion).

Volkswagen replaced Mueller after he failed to refocus the group's portfolio of vehicle brands, a key pillar of "Strategy 2025" to transform the company into a leader in cleaner cars after the diesel emissions scandal of 2015.

Volkswagen, which employes over 640,000 people, turned aggressively to electric cars under Mueller's leadership. Amid opposition from labor leaders, Mueller failed to sell motorbike maker Ducati past year.

Cong list of candidates for Karna polls likely on April 12
The state is one of the eight states that go to polls this year and will set the tone for the 2019 Lok Sabha elections. The last date for filing the nominations is April 24, while April 27 is the last date of withdrawal of candidature.

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.

Diess, a former BMW executive who joined VW two months before the emissions cheating came to light, pledged from the beginning to pursue new technology while reining in spending growth. "Unions and Lower Saxony together have the power to block his appointment".

But the tug of war between its controlling families, unions and other stakeholders has made it hard to drive through structural changes that investors have said are key to the company fulfilling its potential.

CBO: 2018 budget deficit to reach $804B
Van Hollen also expressed worry that Republicans will use this news to cut into entitlement programs like Social Security. Real growth in gross domestic product, which past year was projected to be 2 percent in 2018, will now reach 3.3 percent.

The change doesn't come as much of a surprise, because the VW Group issued a statement on Tuesday saying it was in the process of reviewing its senior management structure, which it explicitly said could result in personnel changes.

"Matthias Müller has done outstanding work for the Volkswagen Group", said Hans Dieter Potsch, chairman of the supervisory board.

"Diess will hold both positions, CEO of the company and the VW brand", one of the sources said, speaking on condition of anonymity because of the sensitivity of the subject.

Bayer reaches deal with US for approval to buy Monsanto
It dropped, as 61 investors sold UAL shares while 193 reduced holdings. 44 funds opened positions while 49 raised stakes. News coverage about Monsanto (NYSE:MON) has trended somewhat positive recently, according to Accern Sentiment.

"Mueller has expressed frustration with the pace of Volkswagen's transformation and more recently about his ability to turn around the brand's image following revelations the company had tested toxic fumes on monkeys". He and Mr Mueller instead agreed to guarantee VW's German jobs until 2025, to get labour approval for a plan to turn the company into a mass producer of electric cars.

Related news:

Hot News

isis-killer-beheading-video-story-top Spotify and Hulu join forces on $12.99 per month bundle
Apr 12, 2018 - 00:51
On Wednesday, the two streaming giants expanded their existing partnership to offer consumers a rather attractive deal. The Swedish company uses the free platform to lure its subscribers into paying for the premium $11.99 a month service.

isis-killer-beheading-video-story-top Sunrisers Hyderabad look confident to take on Mumbai Indians
Apr 12, 2018 - 00:50
The Sunrisers will play the Mumbai Indians on Friday morning for a chance to retain their position at the top of the ladder. As Rahane has a great record against Delhi Daredevils with an average of 63+, a lot will depend on their skipper.

isis-killer-beheading-video-story-top PlayStation 5 Isn't Actually Coming Before 2020
Apr 12, 2018 - 00:50
Instead of figuring out when the PlayStation 5 will be launched, gamers should instead enjoy what the PlayStation 4 offers. Earlier this year , it was also speculated that the future PlayStation console would move to more "procedural content".

isis-killer-beheading-video-story-top Arizona rules colleges can't offer in-state tuition to DACA recipients
Apr 12, 2018 - 00:46
President Donald Trump has tweeted about DACA frequently after announcing a year ago he would end the program. DACA recipients in Arizona will now face a tougher time being able to finance their college education.

isis-killer-beheading-video-story-top Hither Green burglar stabbing: Mounted police patrol area
Apr 12, 2018 - 00:45
Footage from Monday night showed a man stamping on the tributes in a separate attack, claiming: "The flowers need burning". Officers were called to reports of a burglary at 12.45am, after two men entered the house on South Park Crescent.#.

isis-killer-beheading-video-story-top Rauner, If Asked, Would Deploy Illinois National Guard To Mexican Border
Apr 12, 2018 - 00:44
No new California National Guard troops have been sent to the border , according to Evan Westrup, a spokesman for Democratic Gov. It will not be a assignment to locate women and children or detain persons escaping violence and trying a better existence.

isis-killer-beheading-video-story-top Havoc in Kulgam, four civilians killed, 70 injured, militants slip forces
Apr 12, 2018 - 00:44
They said security forces blasted the house from where the militants were firing at them following which the firing stopped. According to a latest reports, some of the terrorists have been trapped in the South Kashmir area.

isis-killer-beheading-video-story-top Traumatic Brain Injuries — HEALTH REPORT
Apr 12, 2018 - 00:39
But if they experienced the same head injury in their thirties, the risk over the same time period was 37 per cent. A traumatic brain injury can be caused by a fall, a traffic accident, a sports accident or a violent attack.

isis-killer-beheading-video-story-top Korean human rights in talks with Kim
Apr 11, 2018 - 17:04
He also visited the Seoul National Cemetery to pay tribute to Korean War veterans before returning to Japan. Diplomatic sources said Kono is anxious that Japan could be left out of talks on the Korean Peninsula.

isis-killer-beheading-video-story-top Over 40 hurt after student charter bus crashes into NY overpass
Apr 11, 2018 - 16:57
According to police, the initial investigation revealed that Gaston possessed a valid Pennsylvania Commercial Driver's License. Major David Candelaria confirmed further details about the accident in a statement to the press.

isis-killer-beheading-video-story-top Why Trump, Obama not invited to British royal wedding?
Apr 11, 2018 - 16:56
It's got to be one of the top invites of the year, and the wedding of Britain's Prince Harry to actress Meghan Markle isn't far off.

isis-killer-beheading-video-story-top IDs of 6 plane crash victims await autopsies
Apr 11, 2018 - 16:56
At least 100 people have reportedly died, and local sources have been quoted as saying the death toll could exceed 200. The plane had been transporting dozens of troops and equipment when it crashed, according to local reports .

isis-killer-beheading-video-story-top Roma dreaming of Kiev after comeback against Barcelona
Apr 11, 2018 - 16:54
His away goal had given Roma a glimmer of hope, and his sixth-minute strike kick-started a memorable night. Edin Dzeko struck early to give Roma hope and Daniele de Rossi added a second-half penalty.

isis-killer-beheading-video-story-top Conte bemused by Chelsea's failure to beat West Ham
Apr 10, 2018 - 20:28
West Ham are now six points away from the drop zone on 34 points. They create chances, they are ready to suffer and win the game". Wilkins died at the age of 61 after suffering a cardiac arrest.

isis-killer-beheading-video-story-top Bill Cosby paid accuser $3.4M to settle sexual assault trial
Apr 10, 2018 - 20:24
Protesters stand outside Montgomery County Courthouse on the first day of Bill Cosby's sexual assault retrial on Monday. Judge Steven O'Neill is questioning the woman in his chambers Monday ahead of opening statements in the retrial .