We all knew that Martin Winterkorn was stepping down from his CEO position at Volkswagen, due to the recent diesel scandal that has shaken the entire corporation. He recently announced his resignation from Volkswagen and claimed no knowledge of any wrongdoings, though he took full responsibility for any and all actions committed by Volkswagen. There’s been much speculation as to who would replace Winterkorn as CEO and it seems Volkswagen has found its man. Well, at least for now.
Matthias Müller, previously the CEO of Porsche, is said to be succeeding Winterkorn as CEO of Volkswagen. The decision was made by Volkswagen’s Supervisory Board, led by labor union executive Berthold Huber, as they try to make sense of this mess as quickly as possible. Müller, 62 years old, has been with Volkswagen AG for decades now and will likely only serve as an interim CEO. Though he is someone Volkswagen feels very good about overall. “He knows the entire car, and he takes every aspect into account, including technical considerations and cost considerations,” says a Volkswagen employee who worked close to Müller.
Even Müller feels that he will only be an interim CEO, as he feels he’s too old for the job. This means a large portion of his time spent at CEO will be looking for a replacement. The good thing about Müller’s hiring is the familiarity. Having been with the Volkswagen Group for quite some time, having spent time at both Audi and Porsche, Müller knows the company well and the company knows him. This is an inside move by Volkswagen and a smart one.
Though, Volkswagen is going to have to find replacements for more than just Winterkorn. Following the scandal, Volkswagen fired four other executives that are said to be some of the best in the business. This means that a large portion of Volkswagen’s main group of executives is now gone. That isn’t easy for any company, eve one as large as Volkswagen. Volkswagen has yet to announce replacements for these executives, though. Technically, the hiring of Matthias Müller has yet to be made official, but it’s the likely thing to happen. W’ll update you as we get more information.
Update: It’s official, Matthias Müller has replaced Martin Winterkorn as VW CEO.[Source: Car and Driver]