Porsche’s Matthias Muller Likely To Be New Volkswagen CEO

Porsche’s Matthias Muller Likely To Be New Volkswagen CEO

After the resigning of Volkswagen CEO Martin Winterkorn following the diesel engine emission test scandal, Volkswagen is looking to start afresh in a bid to save its dying popularity by appointing a new CEO for the group. There are rumors and reports circulating on the internet that Porsche’s CEO Matthias Muller will be the new CEO of the Volkswagen Group.

The Volkswagen AG is in all likelihood appointing the Porsche big man for the job of the Volkswagen Group CEO. The recent diesel engine crisis has made the company lose one third of its market value and its huge reputation not just in the U.S. markets, but also in most parts of the world. This serious crisis has made Volkswagen stop selling all its diesel vehicles in the United States market.

There is every chance for Muller to be elected as the VW CEO by the Volkswagen supervisory board that will be meeting today. Volkswagen is the leading and the largest car manufacturer in Europe.

Muller, at the age of 62 years, has a huge responsibility to put on his shoulders once he gets elected to the VW CEO post. This recent diesel engine crisis is going to put him in a spotlight and he will have to go through a lot of investigations and litigations for this wrong doing by the company.

The United States Environmental Protection Agency (EPA) said that Volkswagen had admitted to use of software on its Audi and VW brand diesel powered engines to pass the U.S. emission tests. Volkswagen later revealed that it had installed the cheat software on over 11 million diesel cars worldwide. The company also said that it was provisioning $7.27 billion from its profits to cover the fixing costs of the diesel powered vehicles.

Volkswagen group is a very huge group that produces inexpensive cars for brands like Skoda, Spain’s SEAT, German Volkswagen models, luxury vehicles for Bentley and Audi as well as luxury sports cars like Bugatti, Porsche and Lamborghini.

Muller has proved his mettle when he was at Porsche and is a very good choice to take the mantle from Martin Winterkorn, according to Evercore ISI research group analyst. The other internal candidates working in various Volkswagen divisions as senior executives have time to prove that they are good for the job. But, right now it is Muller, who would be the choice of the Volkswagen advisory group as the next Volkswagen CEO.

References:

www.autoblog.com

www.wsj.com

September 26th, 2015 by