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Thursday, 24 September 2015

Volkswagen will pick Porsche’s chief exec as its next CEO............

Volkswagen’s  VLKPY -1.08%  supervisory board will pick the head of sports-car maker Porsche as its next chief executive to succeed Martin Winterkorn who resigned on Wednesday, a source familiar with the matter told Reuters.
Matthias Müller, the VW group’s former head product strategist, has a majority on the 20-member supervisory panel, which is due to meet on Friday, the source said.
Winterkorn resigned after almost nine years at the helm of Europe’s biggest carmaker after VW was found manipulating emission standards in the United States.
Earlier Thursday, three more senior executives left the embattled European automaker.
Wolfgang Hatz, the head of research and development at the group’s Porsche unit, and Ulrich Hackenberg, board member responsible for technical development at Audi, will both leave the company as it tries to contain the scandal engulfing it, according to a report by the mass-circulation daily Bild-Zeitung.
Separately, Der Spiegel reported that Hans-Jakcob Neusser, head of development at the VW brand since 2013, will also leave.