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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.

Singer offers first look at reimagined Porsche 911 Targa in the US

We're big fans of Singer's work. The company's "reimagined" Porsche 911s mix the best of what's old with modern technology, and the end results are simply fantastic to behold (and to drive). At the Quail Motorsports Gathering – part of Monterey Car Week – Singer's take on the Porsche 911 Targa made its North American debut, after the car was first shown at Goodwood in June. The car shown here is the second Porsche 911 Targa reimagined by Singer, wearing a really striking shade of brown. Parked next to it was an example of the 4.0-liter 911 that we drove earlier this year. Seeing the two cars next to each other was really special – two of the finest examples of restomod 911s in one place. Singer also used this showing to debut a new carbon ceramic braking system. These new stoppers were co-developed with WP Pro Racing Brakes, and offer a 42-percent weight savings over Singer's standard units. Still, the best part of Singer's display is that brown Targa. Take a few minutes and have a look, in the gallery above. Related Video:

Next-gen Porsche Panamera snapped running in E-Hybrid spec

The Porsche Panamera first debuted back in 2009 and underwent a facelift in 2013. That means the all-new, next-generation Panamera should be arriving in time for the 2017 model year, and here were have our first look at its plug-in hybrid variant. Following the last prototype spotted undergoing cold-weather testing in Sweden, this new Panamera test mule spotted in southern Europe appears to be running the E-Hybrid powertrain setup – judging, at least, by the presence of a second filler cap hiding what's likely an charging port on the left side rear fender. We'll just have to sit tight, however, to find out whether it will be packing an evolution of the existing powertrain or something entirely new. Though the prototype may look largely undisguised, those head- and taillight graphics look like stickers to throw us off the scent, and these do not appear to be production-ready body panels. Expect the finished product to look far more polished when it arrives sometime in the middle of next year, with the hybrid version to follow sometime thereafter.