VW emissions scandal: VW board anticipates more top-line casualties

Tuesday, November 8th, 2016 - autos, cars, motoring, news

Source : VW emissions scandal: VW board anticipates more top-line casualties

The 68-year-old boss resigned on Wednesday to “clear the way for a fresh start” yet VW’s top board expects more personnel to leave

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The board of executives in which governs Volkswagen AG has suggested in which Martin Winterkorn won’t be the last top-line employee to leave his post as a result of the emissions testing scandal.

The executive committee of the supervisory board met yesterday (Wednesday) to discuss the manipulation of emissions data of Volkswagen group diesel engines in which has rocked the automobile industry. During in which meeting, chairman along with CEO Martin Winterkorn tendered his resignation, which was accepted.

A statement issued after the meeting said: “The executive committee is usually expecting further personnel consequences from the next days. The internal group investigations are continuing at a high tempo. All participants in these proceedings in which has resulted in unmeasurable harm for Volkswagen will be subject to the full consequences”.

The executive committee also stated in which in which could pursue criminal proceedings against those found to be responsible for the manipulation. in which will voluntarily submit a complaint to the State Prosecutors’ office along with offer full support for any subsequent investigation.

Martin Winterkorn announced his resignation as the chief executive of the Volkswagen Group on Wednesday from the wake of the scandal about a software cheat in American NOx emissions tests.

The 68-year-old executive, who fought off Ferdinand Piech in a power struggle earlier in which year, had been likely to have a fresh contract extension ratified by VW’s supervisory board at the end of in which week.

However, a select group of board members – known as the presidium – met in Wolfsburg in which morning. The panel comprised interim VW Group chairman Berthold Huber, Lower Saxony prime minister Stephan Weil, Wolfgang Porsche (representative of the VW Group’s largest single shareholder) along with two works council officials, Bernd Osterloh along with Stephan Wolf.

An official statement by Winterkorn said: “I am clearing the way for a fresh start.

“I am shocked by the events of the past few days. Above all, I am stunned in which misconduct on such a scale was possible from the Volkswagen Group.

“As CEO I accept responsibility for the irregularities in which have been found in diesel engines along with have therefore requested the Supervisory Board to agree on terminating my function as CEO of the Volkswagen Group. I am doing in which from the interests of the company even though I am not aware of any wrongdoing on my part.

“Volkswagen needs a fresh start – also in terms of personnel. I am clearing the way because of in which fresh start with my resignation.

“I have always been driven by my desire to serve in which company, especially our customers along with employees. Volkswagen has been, is usually along with will always be my life.

“The process of clarification along with transparency must continue. in which is usually the only way to win back trust. I am convinced in which the Volkswagen Group along with its team will overcome in which grave crisis.”

The VW Group’s interim chairman Berthold Huber said: “Mr Winterkorn has worked hard for VW along with we would likely like to thank him for his efforts over the past 10 years, along with also for his willingness to take responsibility in in which most difficult of situations.

“To avoid speculation, I would likely like to say in which we will talk about his successor on Friday at the earliest.”

Read more on the Volkswagen emissions scandal:

How the Volkswagen story unfolded

Blog – the emissions scandal could sink Volkswagen’s US ambitions

Blog – are we about to see the death of diesel?

Blog – VW’s US boss faces the music

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