Volkswagen Group gets Restructured

Last month Martin Winterkorn, the chief executive of Volkswagen, announced that he was resigning following the scandal surrounding the emissions of the company’s diesel cars. There was no word on a successor until just now. The VW Group has been announced that 62 year-old Matthias Müller will be appointed CEO of Volkswagen AG with immediate effect. This was decided by the Supervisory Board at its meeting in Wolfsburg. Müller is currently Chairman of Porsche AG in Stuttgart and he will continue in this function until a successor has been found.

At that meeting, the Supervisory Board also decided on the reorganization of the Group’s activities in North America. Effective November 1, the Group’s activities in the region will be led by Prof. Dr. Winfried Vahland, formerly Chairman of the Board of Directors at Škoda, who in this new role becomes a member of the Volkswagen brand Board of Management. 58 year-old Prof. Vahland’s successor as Chairman of the Board of Directors at Škoda will be Bernhard Maier, who was previously heading Sales and Marketing of Porsche AG. However, Michael Horn remains President and CEO of Volkswagen Group of America.

The interim Chairman of the Supervisory Board, Berthold Huber, commented, “The new structure strengthens the brands and regions, gives the Group Board of Management the necessary leeway for strategy and steering within the company, and lays a focus on the targeted development of future-oriented fields.”