Matthias MüllerEnlarge Photo
In a widely expected move, the Volkswagen Group has announced that current Porsche chief Matthias Müller will take over as group CEO.
No replacement for his role at Porsche has been named, and Müller will helm both companies until a successor is appointed. He has previously served as Head of Product Management at VW.
In the release detailing the news, the 62-year-old industry veteran stated: "My most urgent task is to win back trust for the Volkswagen Group—by leaving no stone unturned and with maximum transparency, as well as drawing the right conclusions from the current situation. Under my leadership, Volkswagen will do everything it can to develop and implement the most stringent compliance and governance standards in our industry."
The news comes on the heels of a traumatic week for the German giant.
Former CEO Martin Winterkorn resigned Wednesday, and the automaker has promised more personnel will face consequences for the developing dirty diesel scandal. For using secret software on its TDI models to trick emissions equipment, Volkswagen AG faces as much as $18 billion in fines in the United States alone.
In addition to the leadership shakeup, VW's overarching Supervisory Board has announced a restructuring that touches every area of the organization. Along with the creation of a new North American region—encompassing the United States, Mexico, and Canada—and some high-level Supervisory Board management shifts, the most notable change will be the end of a production role on the board. That responsibility will transfer to individual brands, and the move is designed to make individual regions more accountable for their vehicles.
For a complete breakdown of the scandal and the affected vehicles, head to Green Car Reports.