BREAKING: Porsche’s Matthias Muller Is The New CEO Of VW AG

Volkswagen AG has confirmed that it has appointed Matthias Müller, the current Chairman of Porsche AG, as the new CEO of the 12-brand Volkswagen AG with immediate effect.

Muller will fill the place that has been vacated by Prof. Dr. Martin Winterkorn, who has since stepped down from his position following the explosive ‘dieselgate’ scandal.

The 62-year old Muller will continue to serve in his current position at Porsche AG until a successor is found.

Porsche is one of the twelve brands under the greater Volkswagen Group, which also owns Audi, Bentley, Lamborghini, Bugatti, and Ducati.

Matthias Müller said: "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."

Muller has a Master’s Degree in computer science and started his career with Audi AG, as the Head of the Systems Analysis Division in 1984.

In 1993, he became the Head of Project Management for the Audi A3, before assuming responsibilities for product management at Audi, Seat, and Lamborghini in 1995.

Müller moved to Wolfsburg as Head of Product Management of the Volkswagen Group and the Volkswagen brand in 2007 and also became a General Representative of the Volkswagen Group. He has been Chairman of the Executive Board of Dr. Ing. h.c. F. Porsche AG and a member of the Executive Board of Porsche Automobil Holding SE since 2010. In his function as Chairman of the Executive Board of Dr. Ing. h.c. F. Porsche AG, Müller was appointed member of the Board of Management of Volkswagen AG effective March 1, 2015.