New plans by German carmaker Volkswagen could finally set it free from the troubled years of the "dieselgate" scandal, analysts told CNBC Friday.
VW announced several changes Thursday, including that the group will be organized into six businesses and have a portfolio for China. It also announced a new CEO with Herbet Diess starting in August, replacing Matthias Muller, who led the company in the wake of the emissions scandal. Volkswagen has struggled since 2015 when news broke that the company had deliberately cheated emission tests with U.S. authorities hitting the firm with a $2.8 billion penalty. Diess has been the head of the Volkswagen cars division.
"Volkswagen used to trade at a big, big discount, and I think Herbert Diess is really the CEO who will drive efficiency at Volkswagen, he will take the company to the next level," Arndt Ellinghorst, senior managing director at Evercore ISI, told CNBC's "Squawk Box Europe" Friday.
"Investors will really enjoy meeting him and will put a lot of trust into his ambitions into Volkswagen," he added.