FRANKFURT May 18 Germany's Volkswagen
will likely pick a new chief executive officer (CEO)
from within the carmaker's own ranks, CEO Matthias Mueller told
German daily Handelsblatt.
"I am already in talks with the supervisory board about who
could be my successor," Handelsblatt quoted Mueller as saying.
Mueller's contract is not due to expire until mid 2020, but
the process of picking a new leader needs to be initiated with
plenty of advance notice, Handelsblatt said.
"It is important and a signal for the company if my
successor comes from within our own ranks," Mueller told the
Candidates should have international experience and not
become consumed by day to day operations while focusing on big
picture strategic initiatives, the paper said, quoting Mueller.
Volkswagen (VW) acknowledged its CEO had given an interview
"We are thinking today about how we can better position
Volkswagen in future, and this includes succession planning," a
spokesman said on Thursday, declining to discuss potential
The Handelsblatt interview comes a day after German
prosecutors said they were formally investigating executives at
VW's biggest shareholder, Porsche SE, over whether they informed
markets in a timely manner about the potential risks from VW's
Mueller is a management board member at Porsche SE, the
family-owned holding company which controls 52.2 percent of VW's
Mueller said the Porsche SE board had not neglected its
duties. "We are convinced that we fulfilled capital market
disclosure requirements in an orderly and responsible manner,"
Handelsblatt quoted him as saying.
"Personally I have nothing to answer for," he added.
(Reporting by Andreas Cremer; Writing by Edward Taylor; Editing
by Mark Potter)