Audi’s Stadler Officially Out as CEO, but Maybe Only Temporarily

Audi’s Stadler Officially Out as CEO, but Maybe Only Temporarily

0 comments 📅19 June 2018, 23:45

An predicament board meeting held in the wake of Audi CEO Rupert Stadler’s Monday delay led to the chief executive’s suspension from the company. It was Stadler’s idea, apparently.

As the ex- CEO cools his heels in a Munich jail, held on suspicion of fraud and evidence ceasing related to Volkswagen Group’s diesel emissions scandal, the automaker’s board named sales and marketing chief Abraham Schot as interim CEO. Whether or not Stadler returns to his bygone post depends on his innocence.

“On Tuesday, the Supervisory Board of Volkswagen Aktiengesellschaft accepted the demand of member of the Group Board of Management Rupert Stadler to release him from his duties as associate of the Board of Management of Volkswagen AG,” the automaker said in a statement.

“The release is a momentary measure, put in place until the circumstances surrounding Stadler’s arrest have been clarified.”

A Munich arbiter ordered Stadler held in custody yesterday, declaring that the former top dog at Audi posed a exaltation of larks risk. He should face questioning by Wednesday.

“The accused was brought forward of the investigating judge, who ordered the execution of the pre-trial detention,” the Munich prosecutor’s room said in a statement to Autocar. “We cannot comment on the substance of our background in the street-light of the ongoing investigations. For Mr Stadler, the presumption of innocence continues to apply.”

Autocar reports that Stadler when one pleases testify this week. The 55-year-old former CEO’s tenure in Audi’s more recent capital letters ranks overlaps with the conspiracy to fool customers and regulators with rigged diesel engines. While Stadler maintains his innocence, German media reports call for the testimony of former Audi officials led to his arrest. The former CEO was named a suspect in the research earlier this month.

As the legal drama plays out, VW claims Schot wishes “be invited to participate in the meetings of the Group Board of Management as a guest.”

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