Volkswagen AG appoints Matthias Mueller as new CEO

The chairman of Porsche AG became CEO of the Volkswagen Group, which is caught in an emission cheating scandal. The Supervisory Board held a meeting in its headquarters in Wolfsburg and decided to appoint Matthias Mueller, 62, as CEO Volkswagen AG with immediate effect. Mueller will continue to act as chairman of Porsche AG until a successor has been found. Mueller is expected to steer the car maker out of the current difficult situation.

Mueller who is also a member of Board of Management of Volkswagen AG will act as the CEO VW Group until the end of February 2020. VW was found to have cheated on diesel-emission tests in the U.S. beginning in 2009, triggering billions in potential fines and a U.S. criminal investigation. The company said irregularities involve a diesel engine installed in 11 million vehicles around the world, and said fixing its tarnished reputation with customers will be a long-term task.

The US Environmental Protection Agency (EPA) has revealed that Volkswagen had installed illegal software to falsify emission tests, allowing its diesel cars to produce up to 40 times more pollution than allowed. The US government has ordered Volkswagen to recall 482,000 VW and Audi cars produced since 2009, placing Germany’s leading auto manufacturer on the hot seat.


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