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Found 8 results

  1. Yesterday, Volkswagen terminated the contract of Audi CEO Rupert Stadler. Since June, Stadler has been in prison due to possible evidence tampering concerning the diesel emission scandal. As we reported last week, Volkswagen's supervisory board was expected to make a decision on Stadler's future, but couldn't come to an agreement. "Mr. Stadler is leaving the companies with immediate effect and will no longer work for the Volkswagen Group. Mr. Stadler is doing so because, due to his ongoing pretrial detention, he is unable to fulfil his duties as a member of the board of management and wishes to concentrate on his defence. The contractual execution depends on the course and outcome of the criminal proceedings," the company said in a statement. The last line in the statement is very important. According to German business paper Handelsblatt, Stadler could receive up a 7 million euro ($8 million) payout if he is cleared of any involvement in the diesel emission scandal. Source: Volkswagen, Handelsblatt Rupert Stadler leaves Volkswagen AG and AUDI AG boards of management The supervisory boards of Volkswagen AG and AUDI AG have today consented to the conclu-sion of an agreement with Rupert Stadler on the termination of his offices as a member of the board of management of Volkswagen AG and chairman of the board of management of AUDI AG as well as of his service agreements. Mr. Stadler is leaving the companies with immediate effect and will no longer work for the Volkswagen Group. Mr. Stadler is doing so because, due to his ongoing pretrial detention, he is unable to fulfil his duties as a member of the board of management and wishes to concentrate on his defence. The contractual execution depends on the course and outcome of the criminal proceedings. Rupert Stadler began working for AUDI in 1990 and has worked for the Volkswagen Group ever since. He joined the board of management of AUDI AG on 1 January 2003 and was made chairman on 1 January 2007. He was also appointed to the board of management of Volkswagen AG on 1 January 2010. View full article
  2. Yesterday, Volkswagen terminated the contract of Audi CEO Rupert Stadler. Since June, Stadler has been in prison due to possible evidence tampering concerning the diesel emission scandal. As we reported last week, Volkswagen's supervisory board was expected to make a decision on Stadler's future, but couldn't come to an agreement. "Mr. Stadler is leaving the companies with immediate effect and will no longer work for the Volkswagen Group. Mr. Stadler is doing so because, due to his ongoing pretrial detention, he is unable to fulfil his duties as a member of the board of management and wishes to concentrate on his defence. The contractual execution depends on the course and outcome of the criminal proceedings," the company said in a statement. The last line in the statement is very important. According to German business paper Handelsblatt, Stadler could receive up a 7 million euro ($8 million) payout if he is cleared of any involvement in the diesel emission scandal. Source: Volkswagen, Handelsblatt Rupert Stadler leaves Volkswagen AG and AUDI AG boards of management The supervisory boards of Volkswagen AG and AUDI AG have today consented to the conclu-sion of an agreement with Rupert Stadler on the termination of his offices as a member of the board of management of Volkswagen AG and chairman of the board of management of AUDI AG as well as of his service agreements. Mr. Stadler is leaving the companies with immediate effect and will no longer work for the Volkswagen Group. Mr. Stadler is doing so because, due to his ongoing pretrial detention, he is unable to fulfil his duties as a member of the board of management and wishes to concentrate on his defence. The contractual execution depends on the course and outcome of the criminal proceedings. Rupert Stadler began working for AUDI in 1990 and has worked for the Volkswagen Group ever since. He joined the board of management of AUDI AG on 1 January 2003 and was made chairman on 1 January 2007. He was also appointed to the board of management of Volkswagen AG on 1 January 2010.
  3. Today, the supervisory board of the Volkswagen Group was planning to make a decision as to the future of Audi CEO Rupert Stadler. Since June, Stadler has been in jail over concerns of evidence tampering with the diesel emission scandal. But a decision could not be reached and the decision has been postponed. Sources tell Automotive News that representatives for Stadler and Volkswagen's board were unable to to negotiate a solution that would see Stadler step down as Audi CEO. No reason was given as to why an agreement could not be reached. Bram Schot, Audi sales executive has been acting as interim CEO. Source: Automotive News (Subscription Required) View full article
  4. Today, the supervisory board of the Volkswagen Group was planning to make a decision as to the future of Audi CEO Rupert Stadler. Since June, Stadler has been in jail over concerns of evidence tampering with the diesel emission scandal. But a decision could not be reached and the decision has been postponed. Sources tell Automotive News that representatives for Stadler and Volkswagen's board were unable to to negotiate a solution that would see Stadler step down as Audi CEO. No reason was given as to why an agreement could not be reached. Bram Schot, Audi sales executive has been acting as interim CEO. Source: Automotive News (Subscription Required)
  5. Earlier this month, Audi CEO Rupert Stadler was taken into custody by German prosecutors over concerns about evidence tampering. He is expected to be in jail for another week as investigators will conduct interviews about the diesel emission scandal. Whether or not he is released on bail remains to be seen, but sources tell Automotive News Europe that Stadler will likely not return as Audi's CEO. "The expectation is that Stadler cannot return to his post. You have to be careful, because it's not so easy due to German labor laws, but he needs to concentrate on his legal defense right now and clearing his name," said a source close to Volkswagen Group's supervisory board. The board has been protecting Stadler for some time, but a change in think on the board now see him as 'damaged goods'. According to sources, the last thing Audi needs is a CEO that is implicated in the diesel emission scandal returning to said position. It is hoped that when Stadler is released, he will step down as CEO. It would avoid the embarrassment of the company having to fire him. Who could take Stadler's place? Some believe it could be Bram Schot, Audi's sales chief who was named interim CEO. Sources reveal that Schot isn't acting like a caretaker CEO. A key example was the decision to cancel the media launch of the e-tron in Brussels in August, to the U.S. on a yet to be revealed date. "If Bram Schot does his job well, he has a chance to be the permanent successor. He has all the abilities he needs to act and Schot isn't postponing anything, he's making decisions -- de facto he's the CEO," said a source. Source: Automotive News (Subscription Required)
  6. Earlier this month, Audi CEO Rupert Stadler was taken into custody by German prosecutors over concerns about evidence tampering. He is expected to be in jail for another week as investigators will conduct interviews about the diesel emission scandal. Whether or not he is released on bail remains to be seen, but sources tell Automotive News Europe that Stadler will likely not return as Audi's CEO. "The expectation is that Stadler cannot return to his post. You have to be careful, because it's not so easy due to German labor laws, but he needs to concentrate on his legal defense right now and clearing his name," said a source close to Volkswagen Group's supervisory board. The board has been protecting Stadler for some time, but a change in think on the board now see him as 'damaged goods'. According to sources, the last thing Audi needs is a CEO that is implicated in the diesel emission scandal returning to said position. It is hoped that when Stadler is released, he will step down as CEO. It would avoid the embarrassment of the company having to fire him. Who could take Stadler's place? Some believe it could be Bram Schot, Audi's sales chief who was named interim CEO. Sources reveal that Schot isn't acting like a caretaker CEO. A key example was the decision to cancel the media launch of the e-tron in Brussels in August, to the U.S. on a yet to be revealed date. "If Bram Schot does his job well, he has a chance to be the permanent successor. He has all the abilities he needs to act and Schot isn't postponing anything, he's making decisions -- de facto he's the CEO," said a source. Source: Automotive News (Subscription Required) View full article
  7. Early this morning, German authorities arrested Audi CEO Rupert Stadler at his home in Ingolstadt. Prosecutors said in a statement that Stadler's arrest is due to concerns about evidence tampering. “There were clear signs that there was to be an effort to influence people and other suspects. Therefore we issued an immediate arrest warrant,” Stephan Necknig, a spokesman for the Munich prosecutor’s office to German Tabloid Bild. The arrest of Stadler comes a week after prosecutors accused him of fraud and false advertising. Stadler and Audi's head of procurement, Bernd Martens had their homes raided by prosecutors this past week as well. According to Bloomberg, Stadler is willing to be questioned later this week and his lawyers aren't challenging the arrest at the moment. The New York Times reports that Volkswagen's supervisory board has been holding meetings today to decide on an interim replacement for Stadler. In a statement, Audi said "For Mr. Stadler, the presumption of innocence continues to apply." Stadler becomes the highest-profile employee at the Volkswagen group to be arrested in connection to the diesel emission scandal. Source: Bloomberg (Subscription Required), New York Times, Reuters
  8. Early this morning, German authorities arrested Audi CEO Rupert Stadler at his home in Ingolstadt. Prosecutors said in a statement that Stadler's arrest is due to concerns about evidence tampering. “There were clear signs that there was to be an effort to influence people and other suspects. Therefore we issued an immediate arrest warrant,” Stephan Necknig, a spokesman for the Munich prosecutor’s office to German Tabloid Bild. The arrest of Stadler comes a week after prosecutors accused him of fraud and false advertising. Stadler and Audi's head of procurement, Bernd Martens had their homes raided by prosecutors this past week as well. According to Bloomberg, Stadler is willing to be questioned later this week and his lawyers aren't challenging the arrest at the moment. The New York Times reports that Volkswagen's supervisory board has been holding meetings today to decide on an interim replacement for Stadler. In a statement, Audi said "For Mr. Stadler, the presumption of innocence continues to apply." Stadler becomes the highest-profile employee at the Volkswagen group to be arrested in connection to the diesel emission scandal. Source: Bloomberg (Subscription Required), New York Times, Reuters View full article

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