5. Unfolding the VW Scandal
2006
The
planning
2008
Green Car
award
2013
Investigatio
n begins
Sept 18 2015
The
revelation
Fallout
begins
• Planning
started on how
to increase
their low
market share
in U.S.
• Decision to
install Cheat
Device ensues
• VW begins
Clean diesel
push of its
brands in U.S.
• VW Jetta TDI
Wins Green Car
of The Year
• West Virginia
University
Wins the
70000$ grant
for testing
• Publishes 117
page report on
the poisonous
emission
• US EPA exposes
the massive VW
Scandal
• VW admits the
scam publicly
• Affected 11 mil
cars worldwide
for recall
• CEO Winterkorn
resigns
• Share price falls
34% wiping off
$16 billion of
market val in just
3 days of scandal.
• Lawsuit of $25
billion only in USA
16. RECONSTRUCTING VOLKSWAGEN’S MANAGEMENT STRUCTURE
1. CEO Winterkorn resigns , Matthias Mueller appointed as the CEO of the VW
Group
2. Restructuring of the Board
3. Commissioned Jones Day- A U.S Based law firm from October 1st, 2015 to carry
out Investigation on Scandal
4. Limited Max Compensation of top executives and other executives : Taken
together, the reductions reflect a cut of up to 40% from the previous maximum
compensation, although minimum salary was increased by up to 30%.
17. VISION 2025
Volkswagen Embraces EVs So You’ll Forget Dieselgate
The “Strategy 2025” announced by
the new CEO was also a symbolic rite
of passage for him to make his mark
on the heels of the last CEO Martin
Winterkorn’s “Strategy 2018.” That
strategy was to become the global
market leader and in qualified terms
it met those goals.
Investment : $ 20 billions for mass-
production of EVs
The most reputable companies have, on average, index scores of 77 points. In 2017, Rolex was the most reputable company according to the Reputation Institute, with 80.38 points. Rolls-Royce was the highest ranked automobile manufacturer, with 77.66 points.
The “Strategy 2025” announced by the new CEO was also a symbolic rite of passage for him to make his mark on the heels of the last CEO Martin Winterkorn’s “Strategy 2018.” That strategy was to become the global market leader and in qualified terms it met those goals.
This too was emphasized by Müller, who knows someone better ride herd on this new initiative, even if much more has yet to be disclosed.