Monday, September 26, 2016

Newly released memo suggests Ex-VW CEO knew of emissions deception before meeting with regulators.

Forbes (9/25, 14.92M) reports that Germany’s BILD Zeitung, citing a recently-uncovered July 30, 2015 Volkswagen memo, revealed that former Volkswagen CEO Martin Winterkorn knew of and instigated the attempted cover-up of the car manufacturer’s use of deceptive diesel emissions-testing software. BILD alleged that the memorandum evidenced that Winterkorn agreed to “partially” disclose details of the diesel engines’ “issues” in an informal meeting with CARB deputy executive Alberto Ayala.
        Bloomberg News (9/25, Donahue, 2.49M) adds that Winterkorn signed off to the plan on July 28, about seven weeks before US authorities unveiled Volkswagen’s emissions standards deception to the public. Winterkorn stepped down after the revelation and is now “the subject of a probe seeking to find out whether management was too slow to tell investors about the potential cost of the diesel-emissions scandal.”

        Audi CEO questioned in Volkswagen diesel emissions-cheating software probe. Reuters (9/23) reported American law firm Jones Day questioned Audi CEO Rupert Stadler earlier this week as a part of Volkswagen’s internal investigation into its diesel emissions test-cheating software. Reuters said that the supervisory board intended to discuss the findings of the inquiry on Friday; however, three sources familiar with the matter revealed that no evidence incriminated Stadler. 

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