Matthias Mueller has been named by Volkswagen AG as the CEO of Porsche AG. Known to be VW's top car-model strategist, Mueller is tasked to revitalize Porsche's lineup of luxury vehicles before the brand is integrated into VW.
Mueller will take over the CEO position from Michael Macht, who will succeed Jochem Heizmann as VW Group's production chief.
These appointments are effective on October 1. For four years, Mueller was the head of product management at Audi until 2007 before he worked at VW.
On the other hand, Macht led Porsche's production operations before he got a promotion to supervise the carmaking division last summer when CEO Wendelin Wiedeking departed from the company.
Wiedeking had left after Porsche failed to take over VW. Volkswagen CEO Martin Winterkorn now also serves as CEO of Porsche Automobile Holding SE, the holding company that owns the sports car maker. Last December, VW purchased an initial 49.9% stake in Porsche's core sports car business.
When these two brands finally merge in 2011, it will make VW achieve the ranking as the 10th brand worldwide.
It's no secret that Mueller is a close associate of Winterkorn, who has campaigned for Porsche to build smaller cars that will meet environmental standards and that are expected to expand market appeal. Many Porsche fans are apprehensive that this strategy will damage the brand.