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Frankfurt - Volkswagen denied it was going to replace CEO Martin
Winterkorn amid an emissions scandal that has rocked
the company.
"Nonsense," a spokesperson at the company's
headquarters in Wolfsburg said on Tuesday when asked whether the report
by German Tagesspiegel was true.
According to the paper, Porsche CEO Matthias Mueller is to replace Winterkorn, adding VW's supervisory board would decide the management change on Friday.
The allegation comes after the US Environmental Protection Agency said on Friday that Volkswagen used software that deceived regulators measuring toxic emissions.
It could
face penalties of up to $18bn in the US, as well as
class-action lawsuits from buyers and damage to its reputation.
