The Traderszone Network

Published in TZ Latest News 6 September, 2015 by The TZ Newswire Staff

Volkswagen’s management reshuffle creates no momentum for change: analysts

Volkswagen’s management reshuffle may fail to generate the momentum Europe’s largest carmaker needs to tackle stubborn structural problems that have been amplified by slumping sales in China, according to industry experts. VW this week paved the way for Chief Executive Martin Winterkorn to serve two more years, until the end of 2018, and for finance chief Hans Dieter Poetsch to become chairman. This ended the management uncertainty that has weighed on the carmaker since former Chairman Ferdinand Piech was ousted in April after a power struggle with Winterkorn over strategy.