German carmaker Volkswagen mulls senior management reshuffle

BERLIN, April 10 (Xinhua) -- German carmaker Volkswagen told press on Tuesday that the automotive giant is considering far-reaching personnel changes within its senior management.

"These changes could include a change in the office of chief executive officer (CEO)," a statement by the Wolfsburg-based company read. No further information was made available with regards to the precise fate of acting CEO Matthias Mueller.

Although Mueller's contract is not officially scheduled to terminate until 2020, Volkswagen said that the 64-year-old executive had "signaled his principal willingness" to help carry overhaul the company's management.

Both Bloomberg and "Handelsblatt" are reporting that current VW brand chief Herbert Diess is to replace Mueller. A decision could be made as early as Friday.

The holding company Porsche SE also announced in a separate statement changes in its own management structure as a result from a general corporate shake up in the Volkswagen Group.

Markets reacted positively as both Porsche's and Volkswagen's shares rose by more than 4 percent shortly after the first reports of the looming management reshuffle. Enditem