EMISSIONS SCANDAL: Volkswagen CEO Martin Winterkorn could be replaced, at least according to German media. Image: AP / Odd Andersen
Volkswagen chief Martin Winterkorn could be replaced, according to German media reports.
Winterkorn's replacement could be announced at a meeting of the German automaker's board on Friday (Sept 25).
Porsche chief Matthias Mueller could take over as VW CEO, Berlin's daily Tagesspiegel reports citing sources on the board.
Volkswagen however denied it was going to replace Winterkorn amid an emissions scandal that has rocked the company.
Reeling from emissions scandal
Volkswagen's shares tumbled more than 20% on Monday, its biggest one-day fall yet, as the automaker plunged into turmoil by accusations from US authorities that it falsified emissions data.
The US Environmental Protection Agency said on Friday Europe's biggest automaker used software for diesel VW and Audi branded cars that deceived regulators measuring toxic emissions and could face up to $18-billion in penalties.
Andreas Lampersbach, VW's head of corporate and business communications, issued the following: "Volkswagen is working at full speed to clarify irregularities concerning a particular software used in diesel engines."
'We will clear this up'
Winterkorn intends to keep his job amid mounting pressure as the automaker's emissions cheating scandal widens.
It would be wrong "to call into question the hard and honest labour of more than 600 000 people over the grave mistakes made by very few," Winterkorn says in a video message.
"Our team does not deserve this. Not least for that reason I ask you to trust us on our way ahead," he says, addressing customers, the administration and the general public.
"We will clear this up," the 68-year old says.
Read - Emissions scandal: How VW's 'defeat device' works
"New vehicles from the Volkswagen Group with EU 6 diesel engines currently available in the European
Union comply with legal requirements and environmental standards."
Click here to read VW's full response
482 000 cars affected
Volkswagen could face civil penalties of $37 500 for each vehicle not in compliance with federal clean air rules. Some 482 000 four-cylinder VW and Audi diesel cars sold since 2008 are involved in the allegations.
More on VW emissions scandal:
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