Volkswagen CEO Matthias Müller

VW CEO Matthias Mueller says successor likely to come from within

Volkswagen will probably select a new chief executive officer (CEO) from within the automaker’s own ranks, CEO Matthias Mueller told Handelsblatt.

“I am presently in talks with the supervisory board about who could be my successor,” Handelsblatt quoted Mueller as saying.

Mueller’s contract is not due to end till mid 2020, but the process of selecting a new leader needs to be initiated with lots of advance notification, Handelsblatt stated.

“It is necessary and a signal for the company if my successor comes from within our own ranks,” Mueller informed the paper.

Candidates ought to have worldwide experience and not end up being taken in by day to day operations while concentrating on broad view strategic initiatives, the paper said, quoting the CEO.

Volkswagen confirmed its CEO had given an interview to Handelsblatt.

“We are believing today about how we can better place Volkswagen in future, and this includes succession planning,” a representative stated, declining to discuss possible candidates.

The Handelsblatt interview comes a day after German prosecutors stated they were officially investigating executives at VW’s most significant shareholder, Porsche SE, over whether they notified markets in a timely manner about the prospective risks from VW’s emissions scandal.

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