Volkswagen chairman doesn't rule out outsider as next CEO
Hans Dieter Poetsch, chairman of the Volkswagen AG supervisory board, addresses a news conference at the headquarters in Wolfsburg, Germany, April 22, 2016. REUTERS/Hannibal Hanschke
Get Alerts TSLA Hot Sheet
Join SI Premium – FREE
HAMBURG (Reuters) - Volkswagen
Current CEO Matthias Mueller, whose contract runs through 2020, has been with the Volkswagen (VW) group for nearly 40 years, including in senior roles at premium divisions Audi
Several investors criticized his appointment, which came at the height of the German carmaker's diesel emissions scandal in September 2015, saying it should have hired a new leader from outside the business.
In comments emailed to Reuters on Friday, Poetsch said the supervisory board would deal with a successor to Mueller "in due course".
"Of course we are open as far as the outcome is concerned," he said, in reference to whether a successor could come from outside the company or be a woman.
The car industry is going through a period of change, with pressure to reduce pollution and embrace cleaner technologies, as well as autonomous driving, car-sharing and new competitors such as Tesla (NASDAQ: TSLA) and Uber [UBER.UL].
The politician expected to win next month's election in Lower Saxony - VW's home state and second-biggest shareholder - earlier this month suggested that someone from outside the auto industry should succeed Mueller.
Poetsch reaffirmed his support for the 64-year-old CEO, who raised some eyebrows within VW earlier this month with comments about possible asset sales.
In an interview with the Wall Street Journal published on Sept. 7, Mueller said a new team at VW was working to sell assets no longer considered essential and that such businesses could account for up to a fifth of group revenue.
However, the most senior member of the carmaker's ruling Porsche and Piech clan, Wolfgang Porsche, has since spoken out against selling any of VW's assets, echoing the opposition expressed by VW's powerful labor unions.
VW asked banks earlier this year to examine options for its motorcycle brand Ducati and transmissions maker Renk, including selling the two divisions, sources have said, as it looks to fund a major shift to electric cars and mobility services.
"Matthias Mueller, and that's the view of the entire supervisory board, is the right man," Poetsch told Reuters.
(Reporting by Jan Schwartz; Writing by Andreas Cremer; Editing by Maria Sheahan and Mark Potter)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- The Biggest Winners Don't Compete in a Category. They Rewrite It. One Company Is Betting It Can Too.
- US shoppers tighten budgets, but still find room for treats and splurges
- Bangladesh PM Rahman likely to visit India from August 23-25, Indian newspaper reports
Create E-mail Alert Related Categories
ReutersRelated Entities
TeslaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!



Tweet
Share