VW to Name Porsche's Mü ller as New CEO
24 Septembre 2015 - 6:10PM
Dow Jones News
FRANKFURT—Volkswagen AG will name Matthias Mü ller, the current
chief executive of the group's premium car manufacturer Porsche AG,
as its new CEO, a person familiar with the matter said
Thursday.
Mr. Mü ller will replace Martin Winterkorn at the helm of the
embattled car maker. Mr. Winterkorn resigned Wednesday in the wake
of the company's admission that it cheated U.S. emissions
tests.
Members of Volkswagen's supervisory board said Wednesday,
shortly after Mr. Winterkorn resigned, that further personnel
decisions would be made after a full board meeting on Friday.
Mr. Winterkorn stepped down just days after the disclosure
Friday by the U.S. Environmental Protection Agency that Volkswagen
allegedly used software on some of its Volkswagen and Audi
diesel-powered cars that made them appear to run cleaner in tests
than they do on the road.
On Tuesday, Volkswagen said that as many as 11 million cars were
affected and possibly subject to a global recall. The company
issued a profit warning and announced it was taking a €6.5 billion
($7.27 billion) provision against earnings to cover the costs of
fixing the software.
Mr. Mü ller has overseen a period of rapid growth since becoming
CEO of Porsche in 2010, including the successful introduction of
two sport-utility vehicles. Close to the Porsche and Pië ch
families that control VW, Mr. Mü ller would be seen as a
well-qualified compromise candidate acceptable to the unions and
lower-level management.
Write to Hendrik Varnholt at hendrik.varnholt@wsj.com
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(END) Dow Jones Newswires
September 24, 2015 11:55 ET (15:55 GMT)
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