Audi names interim CEO after boss arrested over dieselgate

German carmaker Audi said on Tuesday it had named a new interim chief, a day after prosecutors arrested boss Rupert Stadler in connection with parent company Volkswagen’s “dieselgate” scandal.

“The supervisory board of Audi AG has decided to transfer the duties of the board of management chairman (chief executive) to Abraham Schot on a temporary basis with immediate effect,” the firm said in a statement, confirming earlier media reports.

Born in the Netherlands, Schot has been head of sales and marketing at Audi since September 2017, after joining the VW group in 2011.

Munich prosecutors and police swooped on Stadler early on Monday morning, saying they aimed to stop him “seeking to influence witnesses or other suspects”.

The dramatic arrest came a week after Munich authorities raided Stadler’s home. They had charged him with fraud and falsifying documents that allowed diesel vehicles equipped with cheating software to be sold to European customers.

READ MORE: Audi boss arrested over dieselgate crisis

Stadler is the most senior executive yet to be detained in the dieselgate crisis, which started when the Volkswagen group admitted in 2015 to installing so-called “defeat devices” in some 11 million diesels worldwide that made them seem less polluting in lab tests than they actually were on the road.

The affected vehicles involved VW’s own-brand cars, but also those made by Audi, Porsche, Skoda and Seat.

Audi is under particular suspicion that its engineers helped create the software used in the scam.

The change of CEO did not immediately spark major reactions from investors.

But with its shares down 2.9% at 151.60 euros by 1:25 pm (1225 GMT), VW was the worst performer on the DAX index of blue-chip German shares.

READ MORE: Timeline of events in VW pollution cheating scandal

© Agence France-Presse

Agency
External source
Advertisting

Unions slam move to cut wage bill

Cosatu rejects job losses and a wage freeze for public servants, calling this ‘a declaration of war’

Coronavirus: South Africa will evacuate citizens from Wuhan

The government is expected to evacuate citizens from Wuhan, where the coronavirus outbreak originated

Primedia CEO Essack leaves following internal battles

Omar Essack leaves the 702 and 94.7 owners after a protracted standoff with the board

‘We’re satisfied with SA’s land reform policy’— US Ambassador

Top US official is lobbying multinational firms to invest in South Africa

Press Releases

Over R400-m given to businesses since launch of three-minute overdraft

The 3-minute overdraft radically reduces the time it takes for businesses to have their working capital needs met

Tourism can push Africa onto a new path – minister

The continent is fast becoming a dynamic sought-after tourist destination

South Africa’s education system is broken and unequal, and must be fixed without further delay

The Amnesty International report found that the South African government continues to miss its own education upgrading targets

Business travel industry generates billions

Meetings Africa is ready to take advantage of this lucrative opportunity

Conferences connect people to ideas

The World Expo and Meetings Africa are all about stimulating innovation – and income

SAB Zenzele Kabili B-BBEE share scheme

New scheme to be launched following the biggest B-BBEE FMCG payout in South Africa’s history

Digging deep

Automation is unstoppable, but if we're strategic about its implementation, it presents major opportunities

TFSAs are the gymnasts of the retirement savings world

The idea is to get South Africans to save, but it's best to do your research first to find out if a TFSA is really suited to your needs