After changing Mullen, the Volkswagen Group can completely say goodbye to the diesel door.
Not long ago, in Berlin, the excellent 2017 results were released. Volkswagen CEO Mullen suddenly had to wait for the rice bowl. On Tuesday, the Volkswagen Group issued a statement that will adjust the management, which also involves the position of CEO Mullen. In the end, whether it is to step down or change the position, the statement is not mentioned, Mulun is only saying, "willing to contribute to the change."
It is reported that the Volkswagen Group Supervisory Committee will vote this Friday, and Mulun’s position is likely to be replaced by the current Volkswagen brand CEO Diss. What happened to the calming Volkswagen Group, Mullen’s good CEO was replaced, why would he be Diss? What adjustments are there for other executive positions?
It’s not that Mullen is not good, but he is destined to be a transitionalThe British media believe that Mullen’s exit was planned by the representatives of the Porsche-Pi皮 family, Wolfgang Porsche and Hans Michel Piëch, and the chairman of the Volkswagen Supervisory Board, Hans Dieter Pötsch. But this is not a disapproval of Mullen's ability to work, but a complete transformation of the Volkswagen Group. He can only be a victim.
Dean and Mullen
In 2015, the diesel scandal broke out. The 64-year-old Mullen took over the position of CEO of the group from Wendeng, and he was in danger. Before that, his entire career was almost dedicated to the Volkswagen Group. But his age is there, he is destined to be only a transitional, and he is too long in the group, and there is always an unclear relationship with the diesel door.
From taking over the position of CEO of the group, Mullen did face a lot of trouble every day, dealing with angry diesel car owners, dissatisfied investors, restless trade unions, and government officials, but he also achieved very good results: group profits Increased, the stock price returned to the pre-crisis level, established the mobile travel brand Moia, launched a series of auto-driving and electric vehicles.
Under the efforts of Mullen, the performance of the Volkswagen Group has achieved good growth. When the scandal broke out in 2015, the profit margin was only 6%. Last year, this figure has increased to 7.4%, and Volkswagen has surpassed Toyota to become the world's largest. Car manufacturer.
However, there are still many negative public relations events that have affected his next term, especially the recent relationship between him and the Lower Saxony state government. In an interview with Der Spiegel in March, Mullen directly said that he did not like those interventions. The politicians I work for, because the latter proposed a policy to limit executive wages, so that Mullen’s salary could not exceed 10 million euros. The Lower Saxony Minister of Economics commented on this statement: "In the difficult times of the public, (Mullen) lacks sensitivity."
So we can also see that Mullen is more upset and dissatisfied when he publicly shows up, in the words of Evercore ISI analyst Arndt Ellinghorst, "He doesn't particularly like his job."
Successor, why is it likely to be Diss?
In contrast, the public image of the current Volkswagen brand CEO Des is obviously more sunny, analyst Arndt Ellinghorst said in a report to investors that if Diss becomes a successor, it will increase the income of public stocks because "he Strong execution and insights into the mobile travel era have contributed to the Group's development. So I don't think there is a better candidate than Des, who can handle both traditional business and reasonable investment in future technology."
Current Volkswagen brand CEO Diss
The 59-year-old Diss is a mechanical engineer. He is good at communication. He is also a famous "efficiency expert" and "cost killer". His ability has been recognized by the outside world in the reform of the popular brand. Moreover, his background is very "clean". He has jumped from the BMW Group and is one of the few executives in the group who have nothing to do with the diesel door.
However, the horror of the Volkswagen Group CEO is not good, so what are the unfinished tasks that are now reserved for Diss, or Mullen's successor?
First of all, he wants to ensure that the Volkswagen Group invests in electric vehicles and continues to expand its advantages. Secondly, how the 12 brands of the group continue to decentralize on the premise of maintaining stability is also a problem he has to deal with, but also paving the way for the IPO of the truck sector.
In addition, whether non-core business such as Ducati should continue to consider selling, how to fight with powerful trade union organizations, how to deal with a series of lawsuits and inspection agencies left by the diesel crisis, these problems must also be solved by him. .
Is the position of other people in management safe?At present, the management of the Volkswagen Group consists of nine people. In addition to Mullen, there are also heads of procurement, legal, financial, and human resources, as well as the heads of Audi, Volkswagen, Truck, and China. After the vote on Friday, the positions of several other people will also face adjustments.
Human Resources Leader Karlheinz Blessing
According to German media reports, Gunnar Kilian, the current Secretary General of the Volkswagen Group, will be able to succeed Karlheinz Blessing as the new head of the group's human resources business. Gunnar Kilian is influential in the Volkswagen Group and he is also a close friend of union chairman Bernd Osterloh. Karlheinz Blessing's popularity in the group is not so good, and it always conflicts with the union, and it is normal to be exchanged.
Audi CEO Stead
Audi CEO Steader's position has been not stable, and it has been rumored to be downgraded by the outside world, so this time his position is also very dangerous. After all, he and the diesel door have been unable to get rid of.
Legal Director Hiltrud Werner
Legal head Hiltrud Werner, who just took over from ChrisTIne Hohmann-Dennhardt a few months ago, but the recent negative news about the diesel door is still quite a lot, and her performance is more controversial.
CFO Frank Witter
Chief Financial Officer Frank Witter, his performance is reasonably good, but there are also flaws, such as the prosecution found his office in November last year, because it was determined that the public paid the union chairman Bernd Osterloh too high wages.
From left to right: Francisco, Andreas Renschler, Heizman
The head of the procurement department, Francisco Javier Garcia Sanz, and the head of the commercial vehicle business, Andreas Renschler, should not be worried about the impact. Professor Heizman, the head of the Chinese business, can rest assured that the Chinese market is so effective.
So after Friday, the management of the Volkswagen Group may face very big changes. Going back to Mullen, but working hard but being replaced, what is it?
In fact, he did not lose at this time. Since the group’s performance last year highlighted his salary rose by 40%, and his contract expired by 2020, it means that he can continue to get considerable after leaving this time. Salary, and he is also likely to get a supervisory board seat, so Mullen's ending is much better than the former Wendeng who was stepped down because of the scandal.
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