BERLIN/HAMBURG (Reuters) - Volkswagen (VOWG_p.DE) is seeking to replace Chief Executive Matthias Mueller with the head of its core brand, Herbert Diess, as part of a broader overhaul of its management structure to boost efficiency, two people familiar with the matter said.
VW, still struggling to put its 2015 diesel emissions scandal behind it, said earlier on Tuesday it could replace Mueller as part of a management revamp. The shares jumped on the news and were up 4 percent at 170.72 euros at 1325 GMT.
It is unclear how soon Diess, a former BMW (BMWG.DE) executive who joined VW in July 2015, would replace Mueller.
The contract of Mueller, 64, who took the reins at VW a week after the “dieselgate” scandal broke in September 2015, runs out in 2020.
“Volkswagen considers a further development of the management structure of the group which would also be associated with personnel changes in the board of management,” VW said in its statement.
Two people close to the carmaker said that VW’s supervisory board was due to meet on Friday and would also discuss efforts to pave the way for the IPO of VW’s truck and bus division.
Europe’s largest automotive group has been considering measures to make itself more nimble, including carving out truck operations via a stock sale, as it spends billions of euros