Volkswagen CEO Matthias Müller leaves abruptly

  • After about two and a half years in the position
  • Accolades, praise and thanks for Müller
  • Herbert Diess taking over

(exechange) — Wolfsburg, Germany, April 12, 2018 — Matthias Müller, chief executive of Volkswagen, leaves — “by mutual agreement”. It is an abrupt change. As announced by Volkswagen Aktiengesellschaft in a news release on Thursday, April 12, 2018, Matthias Müller leaves his post as Chief Executive Officer at the automotive manufacturer after about two and a half years in the position, effective immediately.

No company wants a CEO to flame out in the first years.

Müller’s duties will be taken over by Herbert Diess, most recently Member of the Board of Management and Chairman of the Board of Management of the Passenger Cars brand of Volkswagen Aktiengesellschaft.

Müller’s move is part of a management shake-up also involving the positions of member of the Group Board of Management for Human Resources; and head of Procurement.

“Establishing even more efficient Group management in a phase of highly dynamic change in the Company and the entire automotive industry”

The management change is explained as follows. Volkswagen said in a fairly blunt statement: “The Board of Management and Supervisory Board of Volkswagen Aktiengesellschaft have resolved to extensively revise the Group’s management structure. Volkswagen is thus systematically continuing to transform its business and establishing even more efficient Group management in a phase of highly dynamic change in the Company and the entire automotive industry. In order to sustainably implement the new structure, there will be a number of changes on the Board of Management.”

Precise information about Müller’s future plans was not immediately available.

“Steps down”

Volkswagen said: “Matthias Müller steps down as Chairman of the Board of Management by mutual agreement, effective immediately.”

Share price rise since September 2015

The change follows a rise in the share price of Volkswagen Aktiengesellschaft since September 2015.

Chaired by Hans Dieter Pötsch

Volkswagen Aktiengesellschaft is chaired by Hans Dieter Pötsch.

Hans Dieter Pötsch has been a member of the Supervisory Board of Volkswagen AG since October 7, 2015.

In the position of CEO since 2015

Matthias Müller was born in Chemnitz (Saxony) on June 9, 1953.

Müller completed his high school education in Ingolstadt followed by an apprenticeship as a toolmaker with AUDI AG.

After his apprenticeship, he studied computer science at Munich University of Applied Sciences.

After obtaining his master’s degree (Diplom-Informatiker), Müller resumed his career with AUDI AG in 1978.

In 1984, Müller became Head of the Technical Systems Analysis Division.

He completed practical training at the Japanese Ministry for International Trade and Industry (MITI) in Tokyo in 1991.

In 1993, Müller was appointed Head of Project Management A3 at AUDI AG.

He became Head of Product Management of AUDI AG, Seat and Lamborghini in 1995.

From 2007, Müller was Head of Product Management of the Volkswagen Group and the VW brand as well as General Representative of the Volkswagen Group.

From 2010 until September 30, 2015, Matthias Müller was Chairman of the Executive Board of Dr. Ing. h.c. F. Porsche AG.

In his function as Chairman of the Executive Board of Dr. Ing. h.c. F. Porsche AG, Matthias Müller was appointed Member of the Board of Management of Volkswagen Aktiengesellschaft with effect from March 1, 2015.

Matthias Müller was appointed Chairman of the Board of Management of Volkswagen Aktiengesellschaft by the Supervisory Board of the Volkswagen Aktiengesellschaft with effect from September 25, 2015.

Read the full story in the exechange report 16.2018 ($).