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Audi Board Will Meet to Decide on Fate of CEO

Audi Board Will Meet to Decide on Fate of CEO

Rupert Stadler, Audi’s CEO, has been the topic of much debate within the media, and indeed within Audi, over his handling of the dieselgate scandal, and according to a report, Audi will meet later this month to determine his fate.

A board meeting has been set for March 29 that, according to Automotive News, was set up to let the board decide on whether or not to recommend to shareholders that they ratify Stadler’s actions as CEO at the May 18 annual general meeting.

Shareholder votes are common for Audi, but following the emissions scandal and the latest raids, this vote is expected to be anything but a formality and will indicate just how much faith the company has in its CEO.

Speculation has dogged Stadler about when he found out about the emissions cheating and he was criticized for first denying Audi was involved in the scandal.

The meeting, reportedly, will also be a chance for the 20 board members to discuss the consequences of the recent raids on Audi’s two biggest factories, as well as the private residences of executives and law firm Jones Day.

On the last score, the prosecutors who conducted the raid have been criticized by Volkswagen, which argues that raiding a law firm is against protocol and will take “every action” against the prosecutors.

[source: Automotive News]

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March 22, 2017 at 05:29AM

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