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VW CRISIS HIGHLIGHTS GOVERNANCE PROBLEMS
- October 27, 2015
- Posted by: Simon Wait
- Category: Industry News
A new report published by Moody’s has stated that the VW emissions crisis highlights serious corporate governance problems at Volkswagen, and that while the ongoing management reshuffle is positive, the high turnover creates risks. Yasmina Serghini-Douvin, vice president and senior credit officer at Moody’s said, ‘VW’s emissions crisis has brought to light serious corporate governance issues within [...] -
Seat involved in diesel scandal
- September 30, 2015
- Posted by: Simon Wait
- Category: Industry News
Seat is the latest VW brand to reveal it is involved in the diesel duping scandal that has rocked the automotive world. Seat sit under the Volkswagen umbrella along with Audi, Skoda and Seat and all have admitted to installing software that allows diesel vehicles to give false emissions readings during testing. Estimated cars involved [...] -
VW dismissing CEO over emissions scandal
- September 22, 2015
- Posted by: Simon Wait
- Category: Industry News
Volkswagen will dismiss Chief Executive Martin Winterkorn, according to reports in a German newspaper, after the carmaker admitted to cheating US vehicles emissions tests and said 11 million of its cars could be affected worldwide. The Tagesspiegel newspaper, cited unnamed sources on Volkswagen’s supervisory board, stating that Winterkorn would be replaced by Matthias Mueller, the [...] -
VW apologise for emissions error
- September 21, 2015
- Posted by: Simon Wait
- Category: Industry News
Volkswagen has apologised after US regulators found some of its cars disguised pollution levels. VW chief executive, Martin Winterkorn said, ‘I personally am deeply sorry that we have broken the trust of our customers and the public.’ An investigation has now been launched into the device that allowed VW cars to emit less during tests [...]