The Supervisory Board of Volkwagen AG met late on Friday in the wake of last week’s emissions test scandal, with the election of a new Chief Executive Officer top of the agenda.
The man chosen to lead the company through the turbulent times ahead is Matthias Muller. The 62-year-old former boss of Porsche was elected to replace Dr Martin Winterkorn, who resigned as CEO of Volkswagen AG last week after the company admitted it had manipulated vehicle emissions test results. The meeting also proposed that an Extraordinary Meeting of Shareholders should confirm the appointment of Hans Dieter Potsch to the Supervisory Board as Chairman-elect.
Friday’s meeting also recommended the immediate suspension of some Volkswagen employees, a process which has already begun, and mandated German and US lawyers to undertake a full investigation of the scandal which involved the manipulation of diesel engine emissions data, something which Supervisory Board Deputy Chairman Berthold Huber described as a ‘moral and political disaster for Volkswagen.’
“The unlawful behaviour of engineers and technicians involved in engine development shocked Volkswagen just as much as it shocked the public,” said Huber. “We can only apologize and ask our customers, the public, the authorities and our investors to give us a chance to make amends.”
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