Porsche Chief Expected to Take Over at VW
Sept. 25, 2015—The new CEO of Volkswagen is expected to be Matthias Mueller, chief of the Porsche brand, according to a report by USA Today. Mueller would replace Martin Winterkorn, who resigned his position as CEO on Wednesday after Volkswagen's emission scandal.
Mueller’s rise in the company comes a few months after Volkswagen's then-chairman, Ferdinand Piech, showed support in installing Mueller as Winterkorn’s replacement. After the failed attempt, Pieche exited the company’s board, but his family still controls a majority of Volkswagen shares.
"In the end, Piech, even though he’s not chairman of the board, got his pick all along, so that’s a little ironic," said Matt DeLorenzo, managing editor of Kelley Blue Book, in an interview, according to USA Today. "I would have preferred to see VW go to an outsider and especially not another engineer."
Other shakeups in the company include the expected exit of Volkswagen U.S. CEO Michael Horn. The announcement is expected to happen today, after the company’s full board meets and announces other changes. Other expected exits are Volkswagen brand development chief Heinz-Jakob Neusser and head of R&D for Audi, Ulrich Hackenberg, according to USA Today.