Money Volkswagen's new CEO may become Audi chairman in May - sources

11:10  15 april  2018
11:10  15 april  2018 Source:   Reuters

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Volkswagen ' s new Chief Executive Herbert Diess will likely take the helm of luxury division Audi 's supervisory board next month, sources at VW group said. Diess, who has been head of Volkswagen ' s ( VW ) core autos brand since 2015, replaced Matthias Mueller as CEO of VW group on Thursday.

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a man wearing a suit and tie: New VW CEO Diess poses after news conference at VW plant in Wolfsburg © REUTERS/Fabian Bimmer New VW CEO Diess poses after news conference at VW plant in Wolfsburg

Volkswagen's (VOWG_p.DE) new Chief Executive Herbert Diess will likely take the helm of luxury division Audi's (NSUG.DE) supervisory board next month, sources at VW group said.

Diess, who has been head of Volkswagen's (VW) core autos brand since 2015, replaced Matthias Mueller as CEO of VW group on Thursday after key stakeholders at Europe's biggest automaker decided that sweeping changes at the multi-brand conglomerate should be spearheaded by a fresh CEO.

Diess, a former executive at Audi's luxury rival BMW (BMWG.DE), is expected to replace Mueller as chair of Audi's 20-strong supervisory board at a meeting on May 8, one day before the brand's annual general meeting, the sources said.

"The supervisory board will take a decision on the chair at its next meeting," a spokesman for Audi said, without elaborating. VW didn't return calls seeking comment.

German magazine Automobilwoche reported earlier on Saturday that Diess wants to become chairman of Audi, without citing the source of the information.

The supervisory board of Audi, the biggest profit engine at VW group, has traditionally been led by the VW group CEO.

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