������ý

Volkswagen AG’s series of executive shakeups is reaching its commercial-vehicle operations, with the surprise departure of Traton SE’s chief and other managers highlighting friction over restructuring plans that were jolted by the COVID-19 pandemic.

Daimler AG CEO Ola Kallenius will widen cost cuts to shore up returns, even as the German manufacturer signaled demand for cars and trucks has started to recover from the most dramatic slump in decades.

Daimler AG CEO Ola Kallenius said the maker of Mercedes-Benz cars and the industry as a whole face painful cutbacks to overcome the economic fallout of the COVID-19 pandemic.

Volkswagen AG’s supervisory board accepted an apology from CEO Herbert Diess, with the unusual public statement reflecting the tension caused by an internal dust-up.

Herbert Diess, CEO of Volkswagen, ceded direct control of the German company’s main passenger car brand after clashing with labor unions over production issues affecting two key models.

Volkswagen AG will halt production at its plants in Europe, deepening the economic pain the rapidly spreading coronavirus is inflicting on the struggling car industry.

Volkswagen AG’s sprawling operations in Europe are starting to feel the effects of the coronavirus pandemic, as the German carmaker joined peers such as Fiat Chrysler Automobiles NV in winding down output at some of its factories.

Volkswagen AG Chief Financial Officer Frank Witter is set to leave by the middle of next year after the carmaker agreed not to extend his contract by the customary five-year period, according to people familiar with the matter.

Daimler AG’s top management tightened control over its flagship Mercedes-Benz luxury-car unit and the vans division that turned in an outsized loss in 2019.

Volkswagen AG Chief Executive Officer Herbert Diess told top managers that the world’s largest automaker needs to undergo a “radical overhaul” in the face of industry change or risk being pushed aside.