The boss of Porsche is expected to be named CEO of Volkswagen when the company’s board meets Friday. Porsche chief Matthias Mueller would take on the immense challenge of addressing the fallout of Volkswagen’s emissions scandal. Mueller would replace Martin Winterkorn, who resigned as CEO on Wednesday.
On Tuesday, Volkswagen said that as many as 11 million cars world-wide were affected and possibly subject to a global recall. The company issued a profit warning and announced it was taking a €6.5 billion ($7.27 billion) provision against earnings to cover the costs of fixing the vehicles.
Mueller has overseen a period of rapid growth since becoming CEO of Porsche in 2010, including the successful introduction of two SUVs, and he’s been a huge advocate of electro-mobility. The latest Porsche Mission E concept unveiled in Frankfurt is said to be his child.
Mueller’s ascension comes several months after the company’s then-chairman, Ferninand Pieche, waged a campaign to install Mueller as Winterkorn’s replacement.