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Before Porsche CEO Matthias Müller was promoted to the Volkswagen Group supervisory board, he made remarks on his potential as a successor to Group CEO Martin Winterkorn. His comments were taken to mean he wasn't interested in the job, but he now says his words were misunderstood.

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A German newspaper reports that Porsche CEO Matthias Mueller will be promoted to the board of the Volkswagen Group, overseeing cooperation among its sports car brands. It isn't yet clear if he will keep hold onto his position at Porsche.