Monday, June 28, 2010

Volkswagen planning to shake up Porsche management

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According to the Financial Times report last Friday, Volkswagen AG intends to reshuffle its management at Porsche Automobil Holding SE in order to strengthen its hold on the automaker.

The report cited sources who said that this July, Volkswagen CEO Martin Winterkorn may announce that Matthias Mueller will soon take charge of Porsche. In addition, FT said that Porsche’s current CEO, Michael Macht, will soon be Volkswagen’s next head of production, replacing Jochem Heizmann who would soon manage truck operations on Volkswagen’s management board. Porsche agreed to a bailout last year, resulting to its being placed under the larger and more solvent Volkswagen Group within next year.

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