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Germany's Volkswagen reorganizes management, replaces CEO

AP  |  Frankfurt (Germany) 

German automaker is creating a new management structure it says will enable faster decision-making as autonomous and electric cars transform the industry.

The Wolfsburg-based automaker is to release today details about plans to reorganize its management into six broad business areas plus It announced yesterday was being replaced with

Diess, a former executive, has had the task of negotiating restructuring and cost-cutting with German worker representatives since becoming in 2015.

The new structure will include three brand groups: volume products, premium and super premium. The automaker includes brands Volkswagen, Skoda, Audi, Lamborghini and Bentley.

Mueller became in 2015 when resigned over the company's scandal over cars rigged to cheat on emissions tests.

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

First Published: Fri, April 13 2018. 17:10 IST