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Audi Denies Report that CEO Stadler Will Be Replaced
Audi AG has denied a Bild report that CEO Rupert Stadler will be removed in June because of his handling of Audi’s role in parent Volkswagen AG’s diesel emission cheating scandal.
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Audi AG has denied a Bild report that CEO Rupert Stadler will be removed in June because of his handling of Audi’s role in parent Volkswagen AG’s diesel emission cheating scandal.
The German newspaper claims Stadler will be reassigned to manage VW Group’s finance portfolio. But Audi Chairman Matthias Mueller tells Reuters that Bild’s report “lacks any foundation.”
Mueller is eager to move beyond the scandal since he was appointed to replace Martin Winterkorn in 2015 after VW admitted it rigged 11 million diesels with cheater software to evade emission laws. But suspicions about Audi’s role in the affair continue to prompt on Audi facilities, including searches last week, by German prosecutors.
Critics have for months been condemning Stadler’s handling of the crisis. But sources tell Reuters that he continues to have the support of the Audi supervisory board and VW’s controlling Porsche and Piech families.
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