Volkswagen set to announce new boss
September 25, 2015, 3:12 pm   

The board of scandal-hit Volkswagen meets on Friday to shake up its management.

On the agenda will be choosing a replacement for chief executive Martin Winterkorn, who resigned on Wednesday.

Reports have said that the front-runner for the top job is Porsche chief executive Matthias Mueller.

VW is also expected to dismiss executives tainted by the scandal over the rigging of emissions tests by software in its diesel cars in the US.

Some investors have suggested that appointing a new chief executive only two days after the old one resigned might be rushing things.

Sasja Beslick from Nordea, which is one of Volkswagen`s biggest investors, told the BBC: "I think this is just a panic reaction from the board of the company."

But he added that there could be benefits from a quick appointment.

"They really need to reinstate the trust of the markets and one of the potential best ways of doing that is to appoint a new head and try to tie all the bad or irresponsible things to the old one."

It is also being reported that VW may be discussing changes to its corporate structure.



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