According to the most recent media reports, the Volkswagen Group – the second largest automaker in the world and Europe’s biggest – is planning to add Porsche CEO Matthias Mueller to its management board.
According to the Friday edition of the Frankfurter Allgemeine Zeitung the top Porsche executive, Mueller, would be named to a new position that was especially created to oversee cooperation among VW AG’s premium sports brands. Reuters corroborated the report, citing an unnamed source that was close to the proceedings, claiming Mueller would get the board appointment as early as next week. The German news agency said that union sources at Porsche were also in agreement that Mueller would be named in a new role on the Group’s management board. Volkswagen can count as sports brands on Lamborghini, Bentley, Porsche, Audi and Bugatti. The reports did not shed any light if Mueller would also retain his previous position as Porsche CEO together with his new board duties. Mueller, 61, became Porsche’s boss back in 2010 and might keep the position since there’s already a precedent – Audi CEO Rupert Stadler is both the brand chief and has a seat on the management board.
Volkswagen managed back in 2013 to surpass America’s General Motors to become the second-largest automaker in the world. It has now pledged to surpass before the decade’s end Toyota to become the biggest auto manufacturer on the globe. Mueller has helped steer Porsche to record earnings and sales each year since his appointment, with the German sports brand having the best earnings margin in the automotive industry.
Via Automotive News Europe