Winterkorn Resigns Post At Audi … Wait, He Still Had A Job At Audi?
Former Volkswagen CEO Martin Winterkorn announced Wednesday that he would resign his position as chairman of Audi’s supervisory board following revelations two months ago that those cars may have been illegally polluting, which threw the automaker into a tailspin.
Winterkorn stepped down from his role as chairman from Volkswagen in September after the scandal broke and resigned his position at Porsche Automobil Holding SE, VW’s largest shareholder, in October. Winterkorn may have stepped down from his position at Audi because what took him so long?
According to Automotive News, analysts said Winterkorn’s delayed exits from his top posts may indicate a shaky corporate structure at Volkswagen AG.
In September, Winterkorn resigned his position from Volkswagen and accepted responsibility for the scandal that involved 11 million cars worldwide without admitting that he knew about it.
Since that time, 800,000 additional cars have been added and regulators in the U.S. allege additional Volkswagens, Audis and Porsches may be cheating as well.
According to Reuters in October, Winterkorn was chief executive at Scania and Volkswagen’s newly formed Truck and Bus division, but it’s unclear if he’s resigned those posts as well. A list of Scania’s current board of directors does not list Winterkorn as a member.
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And how about Piech? Can anyone tell us which job he still has?
I guess Winterkorn is gradually reducing income, maximizing his 401k contributions, and staggering his retirement checks. Jumping into retirement with a sudden decrease of income and lots of time on your hands is a scary prospect!
Now I finally understand what the initials"VW" stand for...Victory (over) Winterkorn.
Sweet Jesus, maybe he can also find a better tailor in his spare time...the puckering on his lapels is horrible.