Audi May Shake Up Management

Volkswagen AG's Audi unit is poised to shuffle its executive team, Auto Motor und Sports reports.

Wolfgang Duerheimer, CEO of VW's Bentley Motors unit, will become Audi's product development chief, according to the magazine, which didn't identify its sources. It says Luc de Meo, marketing chief for the VW brand, will be named Audi sales chief.

The report says Duerheimer and de Meo would replace Michael Dick and Peter Schwarzenbauer, respectively.

Reuters cites two unidentified company officials who say that purchasing chief Ulf Berkenhagen and production head Frank Dreves are likely to leave Audi's management board. But one of the sources says no final decisions on management changes have been made yet.

VW reported last week that Audi's first-quarter operating earnings jumped 27% to €1.4 billion. Operating margin increased to 11.4% from 10.6% a year earlier. Revenue climbed 18% to €12.4 billion, and sales climbed grew 11% to an all-time record of 346,100 vehicles.

The company predicts it expects full-year operating income to match last year's €5.3 billion profit.