VW officially appoints Matthias Mueller as the new CEO

Matthias Mueller, CEO of Porsche AG attends the Porsche AG annual press conference on March 2015 in Stuttgart, Germany.

Thomas Niedermueller | Getty Images
Matthias Mueller, CEO of Porsche AG attends the Porsche AG annual press conference on March 2015 in Stuttgart, Germany.

Following the emergency meeting that was scheduled today, Matthias Mueller has been officially named CEO replacing Martin Winterkorn, who admitted to news of the auto giant’s manipulation of emission tests for its diesel cars.

In a statement, Mueller said he wants to implement strict compliance standards while gaining back the trust the company has lost.

Mueller faces a tough job at the helm. Volkswagen will now try to navigate its way through civil suits and multinational investigations over allegations it deliberately tricked regulators who were testing emissions levels on diesel vehicles made between 2008 and 2015.

In a nutshell, the issue was first brought to light by the Environmental Protection Agency earlier this month based on tests from West Virginia University. Volkswagen is said to have installed sophisticated software known as “defeat devices” that only turned on full emissions controls when it sensed official testing taking place, but otherwise emitted 10 to 40 times the legal amount while on the road.

The Company estimates 11 million cars are affected worldwide. Mueller contended that Volkswagen vehicles never posed safety risks to consumers.

 

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