Victor Muller, the CEO and founder of Dutch sports car company Spyker Cars has officially retired from his post and will be replaced in the meantime by his colleague and Spyker’s F1 director Michiel Mol. This latest announcement ends months of speculation that Muller was preparing to leave, and who’s departure comes just one month after Spyker announced that it had turned over its first ever profit.

Spyker has grown substantially in the past eight months, including buying the former British F1 team, unveiling several concept cars, and promising to expand its product range significantly in the coming years.

There were rumors that part of Muller's decision to leave was made because of recent financial losses and the unsuccessful performance of Spyker’s race team, but the new head, Mol, has flatly denied this. Mol will only be in the position temporarily and hopes to find someone to take up the job permanently in the coming months.

In a press announcement, Muller said that he was privileged to have led the company he had founded since 2000 and that “the company has now entered a phase where different management skills are required than those that were instrumental in creating it”, adding “Michiel Mol has those skills and I am proud to hand it over to such a competent and energetic partner.”