
Five senior members of Volkswagen’s supervisory board are meeting Wednesday to discuss the future for the automaker after stock prices have plummeted and the company has publicly acknowledged it cheated worldwide emissions tests, the BBC reported.
The smaller Wednesday meeting is ahead of a regularly scheduled full board meeting Friday, where members are expected to discuss the contract extension to 2018 for CEO Martin Winterkorn. According to reports, Winterkorn’s future may be decided before Friday’s meeting.
Winterkorn issued a video statement in German on Tuesday apologizing for the scandal, but stopped short from resigning from the top VW post. The German newspaper Der Tagesspiegel reported that Winterkorn would be replaced this week.



Volkswagen announced Tuesday that it “plans to set aside a provision of some 6.5 billion EUR ($7.3 billion) recognized in the profit and loss statement in the third quarter of the current fiscal year,” but that the final number is subject to change as the emissions scandal unravels.






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