Amidst the recent controversy surrounding Volkswagen (VW), the company has recently announced a new CEO: former Porsche head, Matthias Müller.
As many are aware, VW is embroiled in an emissions controversy currently. U.S. Environmental Protection Agency (EPA) recently accused the company of using a “defeat device” when it came to testing game emissions, and stretching air pollution regulations. Volkswagen did admit to this, and stated that the error affected 11 million vehicles around the world. The accusations specially cover their Jetta, Golf, Audi A3, and Beetle models from 2009 to 2015; including 2014 and 2015 models of the Passat.
VW has set aside billions of dollars to deal with the aftermath of this scandal, which goes against the Clean Air Act. The ordeal could cost the company at least $18 billion. In addition, the U.S. Justice Department apparently has also launched a criminal investigation as well.
Müller may have his work cut out for him. He has replaced resigning CEO Martin Winterkorn, who stepped down from his role in the face of these allegations. Winterkorn noted in a farewell statement that the company was in need of a fresh start, and through his resignation, he cleared the way for this.
During his appointment announcement, Matthias Müller recently noted that his most urgent priority is to win back the trust for Volkswagen Group. He is looking to ensure maximum transparency under his leadership, in order to come to the correct conclusions in regards to this situation. He also commented that he wants to do everything he can to implement and execute a solid compliance process and governance standards within the automotive industry.
MSN reports Müller will remain as the head of Porsche (a company which is also owned by Volkswagen), until a replacement for that role has been named. Müller has been the head of Porsche for over five years now, stepping into the role in 2010.Advertisement