Volkswagen has named Matthias Müller as its new CEO.
The 62-year-old Müller was CEO of Porsche, which is among VW Group’s brands. Müller’s appointment comes as VW reels from an emissions-cheating scandal that has affected 11 million vehicles worldwide.
The VW supervisory board met Friday to vote on Müller’s candidacy. Made up of members of VW Group management, labour leaders, representatives of the Porsche family, and the government of Lower Saxony, where VW is headquartered, the supervisory board has moved swiftly to deal with the scandal since the news broke last week.
Former CEO Martin Winterkorn, who has survived a management crisis earlier this year, resigned on Tuesday.
Müller has been with the VW Group for decades. He began his career in the German auto industry in the 1970s, as an apprentice before going to college, and then rose through the ranks. He has presided over Porsche transformation from a maker of expensive sports cars to a company that sells luxury SUV and sedans in both the developed and developing world.
Müller also has the support of former VW chairman Ferdinand Piëch, who was ousted from the VW board earlier this year, but continues to exert influence. During VW’s management crisis, Müller was suggested as a CEO to replace Winterkorn, who was under fire for VW’s weak performance in the US and its sprawling worldwide growth.
Various media reports has also noted that Müller was supported by both the Porsche family (of which Piëch is a member) and VW’s powerful labour unions.
Business Insider Emails & Alerts
Site highlights each day to your inbox.