Following the resignation of former Volkswagen CEO Martin Winterkorn, Matthias Muller, age 62, has been appointed CEO of Volkswagen AG with immediate effect. This was decided by the Supervisory Board at its meeting in Wolfsburg on Friday. Muller is currently Chairman of Porsche AG in Stuttgart, and will continue in this function until a successor has been found.

The interim Chairman of the Supervisory Board of Volkswagen AG, Berthold Huber, underscored, "Matthias Muller is a person of great strategic, entrepreneurial and social competence. He knows the Group and its brands well and can immediately engage in his new task with full energy. We expressly value his critical and constructive approach."

Matthias Muller said, "My most urgent task is to win back trust for the Volkswagen Group - by leaving no stone unturned and with maximum transparency, as well as drawing the right conclusions from the current situation. Under my leadership, Volkswagen will do everything it can to develop and implement the most stringent compliance and governance standards in our industry. If we manage to achieve that then the Volkswagen Group with its innovative strength, its strong brands and above all its competent and highly motivated team has the opportunity to emerge from this crisis stronger than before."