There are so many things going on surrounding Dieselgate that it can be hard to keep up.
Volkswagen to fire four executives
Automotive News says that following the sudden resignation of VW CEO Martin Winterkorn, other top execs at the company are about to be turfed. Michael Horn, head honcho for Volkswagen’s U.S. operations will apparently get the boot on Friday. His replacement is said to be Winfried Vahland who is currently the chief exec at Skoda, which VW owns.
AN quotes a variety of publications who say that three other top brass will be forced out. Ulrich Hackenberg, head of Audi R & D will be joined by Porsche engine boss Wolfgang Hatz at the job line following a board meeting tomorrow. VW brand guy Heinz-Jakob Neusser is also said to be on the way out.
Wintercorn could receive $60 Million severance
Former VW CEO Martin Wintercorn had stocked up a $32 million pension according to Bloomberg, but that may grow to as much as $60 Million due to a contract clause that says his departure could deliver up to two years of severance. Last year, Winterkorn brought home $16.6 Million Euros. It all comes down to how the company’s board classifies Wintercorn’s departure.
Allow your company to succumb to one of the biggest scandals of all time. Jump ship. Get a $60 Million payout. Sounds about right.
Other manufacturers now being investigated
The European Union has asked all 28 member countries to undertake their own diesel testing programs to learn just how many vehicles are on the road with emissions test defeating programs on board. These roadside tests are not being limited to Volkswagen products.
In fact, a German roadside test found a BMW X3 that was emitting 11 times the legally allowed limit of contaminants. BMW denies they have done anything to manipulate tests and the testers aren’t pointing any fingers. Yet.