Volkswagen to elect new Chief Executive

Volkswagen to elect new Chief Executive

The board of Volkswagen will meet today to choose a new Chief Executive after the company was hit by an emissions test scandal earlier this week.

Ex-Chief Executive Martin Winterkorn resigned on Wednesday. VW have been accused of rigging emissions tests in the US, with thousands of cars sending out diesel emissions considerably higher than found in tests.

Porsche Chief Executive Matthias Mueller is reportedly the front runner for the job, gaining the task of steering the company through what will arguably be the most difficult period in its history. Customers and car dealers have shown frustration at the lack of information on the scandal, and the new CEO will be given the difficult job of regaining consumer trust.

Both Europe and the US have started further enquiries, with the UK regulator launching its own investigation on Thursday.