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VW appoints Herbert Diess as CEO, creates new divisions

Reuters  |  BERLIN 

(Reuters) - said will take over from as chief executive, adding fresh impetus to its efforts to slim down and reorganise the way its 12 brands are managed.

The carmaker on Thursday said it will create six new business areas and a special portfolio for China, its largest market, and split its brands into three new vehicle groups with categories for value, premium and super-premium nameplates.

The announcement was made after directors ousted Mueller and deliberated ways to reform an empire which has motorbike, bus, truck and including Ducati, Bentley, Porsche, Audi, and Skoda.

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

The appointment of Diess was cheered by analysts.

"Diess is a man of action, he is the most plausible choice at VW to lead the group into the next phase of its transformation," said Frank Schwope, who has a buy rating on

(Reporting by Andreas Cremer; Editing by and Edward Taylor)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 12 2018. 23:51 IST
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