German Automaker Volkswagen terminates Audi CEO Contract amid Dieselgate scandal

03 Oct 2018_campuscad


Audi parent company Volkswagen terminates the contract with its CEO Rupert Stadler with immediate effect amid its ongoing Dieselgate scandal investigation.

Rupert Stadler was also been in a custody for interfering with the probe in June 2018.
Volkswagen was in news in 2015 for its Dieselgate scandal. It’s first got notice by US Environmental protection Agency in the violation of Clean Air Act. 

The agency reported that Volkswagen has purposely manipulated the software accuracy for Nitrogen Oxide (NO) emission for its turbocharged direct injection (TDI) engines to pass the US emission regulations.

Audi CEO was now forced to step down, But both the VW and Audi presumed he is innocent unless proven otherwise.

The reason provided by VW is due to his ongoing pre trial detention; he is unable to fulfill his duties as a member of board and wishes him to concentrate on his defense.

VW has settled more than $38 billion fine all over the world including its home country Germany.

German shareholders have accused VW for not disclosing the internal investigation of its Dieselgate scandal which also cost them during stock trade-off.

Stadler took the CEO chair at Audi in 2007 and in his 11 years of Tenure, Company has doubled in sales and also on its way to develop the all clean electric vehicles.( Audi recently launched e-tron). He was supposed to be held CEO position till 2023.

Earlier in the case, Oliver Schmidt has been found guilty who was then head of US Environmental and engineering office with $400,000 fine and 7 years in jail term.
Former VW engineer James Liang was also sentenced by the Detroit court to 40 months in jail and $200000 in fine in 2017.

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