VW CEO Looking at Succession Plan

Volkswagen’s CEO, Matthias Müller, has told German newspaper Handelsblatt that he is already interested in picking someone to follow him in that role.

“I am already in talks with the supervisory board about who could be my successor,” Müller was quoted as saying in Handelsblatt. “It is important and a signal for the company if my successor comes from within our own ranks.”

Müller’s contract is good until 2020, but the move comes following an official investigation launched by German prosecutors for his role as a board member of Porsche SE, the holding company that owns a majority stake in VW. Müller joined the executive board of Porsche SE in 2010.

“We are convinced that we fulfilled capital market disclosure requirements in an orderly and responsible manner,” Müller countered, speaking to Handelsblatt. “Personally I have nothing to answer for.”

Volkswagen, meanwhile, confirmed to Reuters that succession planning is happening, but declined to comment on who the candidates are.

“We are thinking today about how we can better position Volkswagen in future, and this includes succession planning,” a spokesperson told Reuters on Thursday.

Müller took over as VW’s CEO in 2015, in the wake of the dieselgate scandal. Before joining the company he worked as the CEO of Porsche since 2010.

[source: Reuters]

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