Porsche Boss Matthias Müller Is New CEO Of VW Group

Following Martin Winterkorn’s departure from his position as CEO of the VW Group, Porsche boss Matthias Müller has been named as his replacement. Müller will remain in charge of Porsche until a replacement is found.

Upon appointing Muller as CEO, Bethold Huber, deputy chairman of the supervisory board for the VW Group Board, said: “Mr Müller is happy to take this on at difficult times for the company. Müller knows the VW Group and will immediately set upon his new tasks with his whole strength. We particularly appreciate his critical view of things."

Huber also apologised for the "illegal behaviour of development engineers in development of engines," before announcing that further suspensions of key figures will take place as an external company investigates the emissions faking allegations.

Matthias Müller also spoke to reassure the general public that he would oversee change at Volkswagen: "My most urgent task is to win back trust for the Volkswagen Group – by leaving no stone unturned and with maximum transparency, as well as drawing the right conclusions from the current situation. Under my leadership, Volkswagen will do everything it can to develop and implement the most stringent compliance and governance standards in our industry. If we manage to achieve that then the Volkswagen Group with its innovative strength, its strong brands and above all its competent and highly motivated team has the opportunity to emerge from this crisis stronger than before."

This is a time of massive upheavel at VW. With senior figures being suspended and almost certainly further resignations ahead, expect to see a lot of movement in the industry.