Porsche extends chief’s contract for five years

Porsche extends chief's contract for five years
Photo: DPA
The head of Porsche, Matthias Müller, has had his contract renewed for another five years, the board of the German sports car company said on Friday.

Müller took charge of Porsche, a unit of Volkswagen, in October 2010 and his contract had been due to expire in January next year, before it was extended to the end of 2019.

"Despite growth, we want to keep our Porsche culture, a path we are continuing with Matthias Mueller," the deputy chairman of the board, Uwe Hück, said in the statement announcing Mueller's extension.

Müller was also kept on in his role as director of strategy and of development, the statement said.

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