OREANDA-NEWS. Matthias M?ller (62) has been appointed CEO of Volkswagen AG with immediate effect. This was decided by the Supervisory Board at its meeting in Wolfsburg today (Friday). M?ller is currently Chairman of Porsche AG in Stuttgart. He will continue in this function until a successor has been found.

The interim Chairman of the Supervisory Board of Volkswagen AG, Berthold Huber, underscored: “Matthias M?ller is a person of great strategic, entrepreneurial and social competence. He knows the Group and its brands well and can immediately engage in his new task with full energy. We expressly value his critical and constructive approach.”

Bernd Osterloh, Chairman of the Group Works Council, commented: “When it comes to leadership appointments the Volkswagen Group does not need hasty decisions. We know and value Matthias M?ller for his determination and decisiveness. He does not work on his own, rather he is a team player. That is what Volkswagen needs now.”

Matthias M?ller said: “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. If we manage to achieve that then the Volkswagen Group with its innovative strength, its strong brands and above all its competent and highly motivated team has the opportunity to emerge from this crisis stronger than before.”

Matthias M?ller was born in Chemnitz (Saxony) on June 9, 1953. He completed his high school education in Ingolstadt followed by an apprenticeship as a toolmaker with AUDI AG. He then studied computer science at Munich University of Applied Sciences. After obtaining his master’s degree in computer science, M?ller resumed his career with AUDI AG in Ingolstadt in 1978, becoming Head of the Systems Analysis Division in 1984 and Head of Project Management for the Audi A3 in 1993. He assumed responsibility for Product Management at Audi AG, SEAT and Lamborghini in 1995.

M?ller moved to Wolfsburg as Head of Product Management of the Volkswagen Group and the Volkswagen brand in 2007 and also became a General Representative of the Volkswagen Group. He has been Chairman of the Executive Board of Dr. Ing. h.c. F. Porsche AG and a member of the Executive Board of Porsche Automobil Holding SE since 2010. In his function as Chairman of the Executive Board of Dr. Ing. h.c. F. Porsche AG, M?ller was appointed member of the Board of Management of Volkswagen AG effective March 1, 2015.

Matthias M?ller’s current contract as a Board member of Volkswagen AG will continue to apply in his new function as CEO. This contract runs until the end of February 2020.

Matthias M?ller succeeds Prof. Dr. Martin Winterkorn, who offered his resignation on Wednesday.