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Matthias Muller officially named VW Group CEO

While the vast number of rumors made it seem like a foregone conclusion, Porsche boss Matthias Muller has officially been named Volkswagen Group CEO to replace the recently resigned Martin Winterkorn. His contract runs through the end of February 2020, and until a replacement is found, Muller also gets to hang onto his old job as chairman of Porsche. At the same time, the VW Group Supervisory Board is announcing a massive structural reorganization across the entire company, with the new management model in place by the beginning of 2016. Contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. The board wants a greater emphasis on brands and regions going forward, and the scale of this shift can be seen in the US. On November 1, VW Group business in the US, Mexico, and Canada is being combined under the leadership of current Skoda chairman Winfried Vahland. However contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. Other brands are also seeing some significant changes mechanically. Porsche, Bentley, and Bugatti now fall under the Group's "sportscar and mid-engine toolkit." This means that the brands will start sharing standardized technical parts. A Chief Technical Officer across all of the company's brands will also start working toward future innovations. The new brand-centric view means the end of a group-wide production department. "Going forward, the brands and regions will also have greater independence with regard to production. So it follows that they should also hold the responsibility for these activities," Berthold Huber, interim Chairman of the Supervisory Board, said in the announcement. In a statement with the press release about his promotion, Muller promised to turn the company around after such an international crisis. He said: "My most urgent task is to win back trust for the Volkswagen Group – by leaving no stone unturned and with maximum transparency, as well as drawing the right conclusions from the current situation. Under my leadership, Volkswagen will do everything it can to develop and implement the most stringent compliance and governance standards in our industry." Matthias Muller appointed CEO of the Volkswagen Group Muller remains Chairman of Porsche AG until a successor has been found Matthias Muller (62) has been appointed CEO of Volkswagen AG with immediate effect.

Porsche Cayman GT4 looks sexy, rapid in the nude

Porsche doesn't officially have a name for its more hardcore version of the Cayman, yet. The speculation is that the coupe is called the GT4 as a little brother to the 911 GT3. However, the German sports car maker apparently is not interested in keeping the model's looks much of a secret because these latest shots show it without a hint of camouflage to speak of. The GT4 reportedly takes the GT3's ethos of more power, less weight and stickier-than-glue handling and brings it all to the Cayman. As these photos show, there's a much lower air dam up front with a cooling vent at the tip of the hood. Larger wheels are another obvious addition and are likely shod with some very sticky rubber. At the back, there's a double spoiler combining a wing and a ducktail. The power and gearbox for the GT4 remains a mystery, though. The rumor is that it uses a tuned version of the 3.4-liter flat-six in the Cayman S and GTS to make between 370 and 400 horsepower. A similar overhaul of the Boxster might be on the way, as well. A version of the convertible wearing some of the Cayman GT4's goodies was recently spotted testing. That one even had a manual transmission to make the prospects behind the wheel even more exciting.

Porsche shows off Cayman GT4 Clubsport in new video

Amateur racers rejoiced last week when Porsche unveiled a track-ready version of the Cayman GT4 at the 2015 LA Auto Show. Now, the company is doing a bit of publicity for the new track car, featuring the race-ready Clubsport video in a stylish, 53-second video clip. There's not a lot to it, to be honest. We see the GT4 Clubsport, we hear it briefly, but that's about it. So if you were hoping that we'd finally get a look at the stripped down cabin, we're sorry to disappoint you. Still, it's good to see Porsche's newest track car in motion for the first time. For those that need a refresher, the GT4 Clubsport retains the standard car's 3.8-liter flat-six engine, but pairs it with the company's super-fast dual-clutch transmission. Combined with basic safety equipment – racing buckets, six-point harnesses, a full roll cage, and a fire suppression system – and suspension components from the company's other entry level racer, the 911 GT3 Cup, and you get a race-ready, mid-engined coupe for the reasonable sum of $165,000. Related Video: