Volkswagen to Name Porsche Chief as CEO [VIDEO]

Volkswagen is expected to appoint Porsche chief Matthias MΓΌller as its new CEO on Friday as well as demand resignations from several of the embattled company’s top engineers, The Wall Street Journal reports. The move comes just a day after CEO Martin Winterkorn announced his resignation over revelations the German automaker had allegedly cheated diesel emissions tests. Road tests revealed emissions were as much as 35 times what the EPA recorded. MΓΌller’s appointment is expected to happen at Volkswagen’s supervisory board meeting, according to people familiar with the situation.