Volkswagen on cusp of replacing its CEO

Volkswagen CEO Mattias Muller
Photo: Krisztian Bocsi/Bloomberg via Getty Images

Volkswagen is set to replace its CEO Matthias Müller, who took the reins after the "diesel-gate" emissions scandal broke in 2015, with senior VW executive Herbert Diess, according to The Wall Street Journal and other outlets.

Why it matters: VW is the world's largest automaker and has been moving aggressively into vehicle electrification, including last month's announcement of plans to expand electric vehicle production capacity to 16 factories over the next five years.