VW settles for 'old boy' Mueller to steer company out of trouble
Updated: 2015-09-29 07:29
(Agencies)
|
|||||||||||
Bob Benson, head of RL Benson Associates, a New Canaan, Connecticut, consultant to executive search firms, said: "It's still an old boys' network, and when it comes to top appointments, there's more focus on who knows whom than on doing a broad search" that includes outsiders as well as insiders.
Change is coming, though. German lawmakers earlier this year voted to require more than 100 of the largest listed companies to allocate 30 percent of vacant supervisory board positions to women starting next year.
Such changes are a way off at Volkswagen, where the Porsche and Piech families hold a majority of voting shares in the automaker and five seats on the supervisory board.
Two of the board family members are women, other women include Annika Falkengren, CEO of Sweden's Skandinaviska Enskilda Banken AB.
Mueller, whose contract as CEO goes until 2020, had run the maker of the 911 sports car since October 2010.
"My most urgent task is to win back trust of the Volkswagen Group-by leaving no stone unturned and with maximum transparency, as well as drawing the right conclusions from the current situation," he said in a statement.
Related Stories
Government orders VW to set compliance timetable 2015-09-28 07:57
Bumpy road ahead for VW 2015-09-25 09:46
VW CEO quits after carmaker rocked by diesel scandal 2015-09-23 23:10
VW Finance China partners 5 major dealer groups 2015-06-13 15:06
CAR, Shanghai VW co-op in rental 2015-05-07 13:47
VW to maintain focus on tech 2015-04-27 07:58
Today's Top News
China marks Martyrs' Day at Tian'anmen Square
Ten industries prioritized for upgrading manufacturing ability
Hong Kong tycoon rejects claims about divestment from mainland
Beijing tops China's hourly minimum wage
Obama, Putin meet at UN on Syria, Ukraine
Former FIFA powerbroker Warner banned for life
China to set up $1b peace fund
VW settles for 'old boy' Mueller to steer company out of trouble
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Xi will get a bigger welcome in UK |
Stepping up |
Rural families still hope for male heirs |
Blue skies over Beijing ... for now |
V-Day parade for 70th WWII anniversary |
Tianjin blasts: Death, damage and bravery |