Mathias Müller to step down as CEO Volkswagen Group
Volkswagen Group has unexpectedly decided to revise its managing structure at the top. The present CEO, Mathias Müller is leaving earlier than foreseen, probably to free the way for Herbert Diess, now leading the Volkswagen brand.
Mathias Müller had a contract until 2020 but apparently the board of commissioners judged it difficult to let him lead the group until then. The real restart should be led by a new face.
The news has been brought by the specialized German newspaper Handelsblatt, Volkswagen restrained itself from comment except for a short declaration about “changes in management structure” at Volkswagen and that these changes could lead to people coming and going.
Normally the board of commissioners will take the necessary decisions on Friday of this week. CEO Müller will not be fired, he declared to step down voluntarily.
Mathias Müller was installed at the head of VW Group in September 2015 as a crisis manager after the so-called dieselgate scandal and the departure of Martin Winterkorn. “A big part of this job is done now”, comments Jürgen Pieper of Metzler Bank. As former boss of Porsche, Müller has led a major restructuring within the company.
For the road ahead the board of commissioners, heavily influenced by the Porsche family as major action holders, apparently prefers Herbert Diess. “He’s a perfect cost watcher”, says Piper, “he seems to me the best choice for the near future, let’s say the following five years to come.”
Last year the Volkswagen Group has registered record profits. The benefits of the 12 brands within the group added up to 11,35 billion euro, the double of the year before. Herbert Diess beoogde nieuwe topman van Volkswagen