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VW's new CEO treads carefully on road to reform, to consider asset sales

A renowned cost-cutter, Diess took over from Matthias Mueller on Thursday

Reuters  |  WOLFSBURG/BERLIN, Germany 

Volkswagen's new Chief Executive Herbert Diess embarked on the most far-reaching shake-up in the carmaker's history on Friday, seeking to unite a company whose feuding factions have often slowed reform. At a news conference at Volkswagen (VW) group headquarters, Diess sought to play down the extent of planned changes, taking care not to stoke fears over jobs that have caused labour bosses to stifle previous attempted overhauls. "This is an evolution and not a revolution," Diess, 59, told journalists, setting out plans to carve up VW into new divisions, adding ...

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First Published: Fri, April 13 2018. 22:08 IST