German carmaker Volkswagen mulls senior management reshuffle

VW could make change at CEO by end of week as part of management reshuffle

Supervisory board chief Hans Dieter Poetsch had been "speaking with different members of the supervisory and executive boards" about moving or replacing some of them, it went on, adding that Mueller "signalled he was open to play a part in the changes".

Shares in Volkswagen spiked almost 3% in Frankfurt on Tuesday.

The supervisory board will meet Friday to sign off on the management changes, the people said.

Mueller has expressed frustration with the pace of Volkswagen's transformation and more recently about his ability to turn around the brand's image following revelations the company had tested toxic fumes on monkeys.

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In the aftermath of the diesel-cheating scandal, Volkswagen has been pushing to overhaul its rigid top-down management structure, delegating more responsibility to its brand and regional chiefs.

Previous executives who attempted deeper cuts in VW's homeland, including Bernd Pischetsrieder and Wolfgang Bernhard, were forced out of office or stifled in their reform efforts.

Both Bloomberg and "Handelsblatt" are reporting that current VW brand chief Herbert Diess is to replace Mueller.

Mueller's likely departure comes two days after Deutsche Bank, another pillar of corporate Germany, dismissed its chief executive, John Cryan, in pursuit of a more rapid turnaround following years of losses.

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The company said in its statement on Tuesday that it was considering changes to its complicated management structure.

FILE - In this June 1, 2017 file photo Matthias Mueller, CEO of the Volkswagen company, attends a contract signing ceremony as part of a meeting of German Chancellor Angela Merkel and China's Premier Li Keqiang at the chancellery in Berlin.

Diess was regarded as a potential future CEO when he joined Volkswagen in July 2015 after serving as head of vehicle development for BMW.

Its complex structure has extended to its main shareholder, Porsche Automobil Holding, where VW's chairman serves as the CEO and Mueller also serves as a top executive.

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Volkswagen may replace its chief executive as part of a management restructure, the auto maker has said. The works council, whose members occupy half the seats on the supervisory board, also declined comment.

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