Porsche Extends Mueller’s Contract

Porsche Automobil Holding SE's supervisory board has given Matthias Mueller a five-year extension on his contract.

Mueller, 60, is CEO of Volkswagen AG's Porsche AG unit. He also will continue as Porsche SE's executive board member in charge of strategy and corporate development.

Under Mueller's leadership, Porsche has expanded its product portfolio, selling a record 162,100 vehicles last year. The company expects to surpass annual sales of 200,000 units in 2015, largely with the help of the Macan small SUV it will introduce in April.