Tuesday 27 September 2016

Former Volkswagen CEO quits as Audi chair as emission-scandal probes continue

Andreas Cremer

Published 12/11/2015 | 08:54

Martin Winterkorn, former chairman of the board of the Volkswagen group. (AP)
Martin Winterkorn, former chairman of the board of the Volkswagen group. (AP)

Former Volkswagen chief executive Martin Winterkorn has stepped down as chairman of luxury brand Audi amid an investigation of two emissions scandals that occurred during his reign at Europe's largest carmaker.

  • Go To

Winterkorn quit his post at Audi on Wednesday, a spokesman at the Ingolstadt-based carmaker said, after resigning as chief executive of family-owned Porsche, VW's majority stakeholder, last month.

The 68-year-old Winterkorn was forced to resign as VW group chief executive by the carmaker's influential labor leaders and the state of Lower Saxony, VW's number two shareholder, on 23 September, five days after the company's rigging of diesel emissions tests became public in the United States.

VW has been rocked by revelations that its diesel cars were equipped with a software capable of cheating emissions rules, affecting 11m vehicles worldwide including Audi models.

The scandal took on a new dimension last week when Wolfsburg-based VW admitted it also manipulated carbon dioxide emissions levels of 800,000 cars, adding this could cost it another €2bn ($2.15bn) besides the 6.7bn it has set aside to cover costs related to the diesel-emissions fiasco.

A successor to Winterkorn as Audi chairman has yet to be named, the spokesman said.


Read More

Promoted articles

Editors Choice

Also in Business