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VW could look outside its own ranks for next CEO

Companies have two options when coming up with succession plans – hire within, or go outside its ranks. Either choice comes with advantages and disadvantages, to be sure. Hiring within means generally getting someone familiar with the company and its culture and traditions, while going outside is ideal if you're looking to shake things up and bring in fresh ideas. It's unclear which avenue the Volkswagen Group will go down when it comes time to replace its head man, Herr Professor Doctor Doctor Herr Martin Winterkorn, but he isn't ruling out a trip outside of Wolfsburg. Winterkorn has already given the reins of the VW brand to former BMW board member Herbert Diess, while Andreas Renschler, a former Daimler board member, is heading up VW's truck group. Now, Winterkorn has made some statements to a German weekly that indicate the most important thing about his successor isn't necessarily his (or her, though no women appear to be on the short-list) previous employer, Motoring.com.au is reporting, so much as his qualities as a leader and an engineering background. "A Volkswagen boss has to have a big affinity to our products. He needs to be close to customers and he needs to have a relationship with dealers," Winterkorn told Stern. "Like always, it depends on the personality and it also helps if the candidate is an engineer." Motoring throws out a couple of potential candidates from within, including Porsche boss Mathias Muller, Audi Chairman Rupert Stadler and engineering guru Ulrich Hackenberg, in addition to both Diess and Renschler. And while each candidate has a lot of potential, the only thing that's guaranteed right now is what Winterkorn has already said: "The decision about who will succeed me is not an easy one for the supervisory board."

BMW negotiates Daimler alliance, buys out car-service partner Sixt

Sixt sells its stake in DriveNow car-sharing to BMW BMW in talks with Daimler to combine car-sharing Combining car-sharing business to aid robotaxi plans FRANKFURT — Germany's BMW has bought out partner Sixt from their joint venture DriveNow, paving the way for a broader car-sharing and driverless taxi alliance with Daimler to compete against Uber and Lyft. Car rental company Sixt said on Monday it would generate an extraordinary pre-tax profit of about 200 million euros ($248 million) in 2018 from the sale of the DriveNow stake to BMW for 209 million euros. "With DriveNow as a wholly-owned subsidiary, we have all options for continued strategic development of our services," said Peter Schwarzenbauer, BMW's board member for Digital Business Innovation. "Our experience with mobility services supports our development of future autonomous, electrified and connected fleets," he said, adding that BMW aims to have 100 million customers for "premium mobility services" by 2025. The Sixt deal comes as BMW moves closer to a deal to combine its car-sharing services with Daimler's Car2Go, a person familiar with the discussions told Reuters last week. The German carmakers want to build a joint business that includes car sharing, ride-hailing, electric vehicle charging, and digital parking services, a senior executive at one of the companies said on Monday. Mercedes-Benz parent Daimler and BMW declined comment on the status of potential talks on their car-sharing business. "This is speculation, we do not comment," BMW said. The senior executive, who declined to be named because the plan is not public, said: "This will create an ecosystem which can also be used for managing robotaxi (driverless taxi) fleets." BMW would contribute its ParkNow and ChargeNow businesses to the common company, the executive said, adding that there were still differences of opinion over the valuation of Car2Go. The market for ride-hailing services currently makes up around 33 percent of the global taxi market, and could grow eightfold to $285 billion by 2030, once autonomous robotaxis are in operation, Goldman Sachs said in a recent research note. BMW and Daimler are now working on developing autonomous cars, vehicles which could enable them to up-end the market for taxi and ride-hailing services.

Lewis Hamilton takes pole as Mercedes speed stuns rivals

MELBOURNE, March 16 (Reuters) - Formula One champion Lewis Hamilton blazed to a record-extending eighth pole and sixth in succession at the Australian Grand Prix on Saturday to lead Valtteri Bottas to a Mercedes sweep of the front row of the grid. Hamilton struggled with a brake problem during the frenetic final session at Albert Park but edged his Finnish team mate by 0.112 seconds with a searing second lap of one minute 20.486 seconds that set a record at the lakeside circuit. The one-two punch by Mercedes left Ferrari and their championship rivals stunned, with Hamilton's chief challenger Sebastian Vettel, who qualified third, more than seven-tenths of a second off the five-times champion's pace. "Oh man, I'm shaking it was so close out there," Briton 34-year-old Hamilton said after extending his pole record to 84 on a warm, sunny afternoon in Melbourne. "Coming from winter testing, we had no idea where we would be. We were hoping to be where we are ... Valtteri did an exceptional job out there, it was very close." Hamilton matched Ayrton Senna and Michael Schumacher for the record number of poles at a single race track. Senna took his eight at Imola, with Schumacher dominating the Suzuka circuit. Four-times champion Vettel, bidding for a third successive win at Albert Park, was separated from his new team mate Charles Leclerc by fourth placed Max Verstappen of Red Bull. It would have felt like 'deja vu' for Ferrari, having trailed Mercedes by nearly seven-tenths of a second in qualifying at last year's race. "Certainly Mercedes are the clear favorite," Vettel told reporters with a touch of resignation. "I'm certainly surprised (by their pace), I think everybody is, probably even themselves." "I think, there is still a bit of margin (to improve) but certainly the gap is there today, and it was a surprise," the four-times champion told reporters. "We didn't expect it coming here but now it is that way. ... Obviously there is a lack somewhere, because we are too slow – but didn't feel like it." German Vettel's new team mate Charles Leclerc qualified fifth fastest behind Red Bull's Max Verstappen but the highly regarded 21-year-old was harder on himself than the car. "I'm not happy with myself. I didn't do the job in Q3, which is a shame," said the Monegasque, who locked up in turn one of a "messy" second lap.