Volkswagen CEO’s replacement has been planned for months: report

The replacement of Volkswagen CEO Matthias Mueller has been planned for months and board members Francisco Garcia Sanz and Karlheinz Blessing are also going to be ousted, Germany’s Bild newspaper reported.

The small circle of executives preparing Mueller’s ouster included Chairman Hans Dieter Poetsch, labor chief Bernd Osterloh, and two member’s of Volkswagen’s controlling family: Wolfgang Porsche and Hans Michael Piech, Bild added.

Mueller will be replaced before the automaker’s annual general meeting on May 3 and be replaced by brand chief Herbert Diess, Bild said.

A leak to the media encouraged Volkswagen to make a quick disclosure on Tuesday, Bild stated.

Volkswagen is going to replace Mueller with Herbert Diess, two sources informed Reuters on Tuesday.