Hacki Hackenberg: “I am a victim of circumstance!” VW’s chief controller #dieselgate embroiled

Hacki on the run

Hacki on the run

Ulrich “Hacki” Hackenberg, who was Audi’s, and formerly VW’s, R&D chief, denies any #dieselgate responsibility. This according to a report of Volkswagen’s internal auditing department, which is being quoted by the usually well-informed German tabloid Bild am Sonntag. Hackenberg has been suspended, along with two other managers. Volkswagen’s chief controller also is about to be sacked, the paper says. [Continue Reading]

Winterkorn stepped down? Not exactly

winterkorn sh 5 - picture courtesy Bertel Schmitt

On Wednesday, Volkswagen CEO Martin Winterkorn famously resigned as CEO of embattled Volkswagen, succumbing to pressure from the executive committee of Volkswagen’s supervisory board. This after widespread cheating with at least 11 million diesel engines was detected. As it turns out, Winterkorn still has a few Volkswagen jobs left. [Continue Reading]

VW diesel debacle: Shenanigans in 11 million engines, stock crashes, WiKo in peril

Ouch

Ouch

Volkswagen’s diesel debacle is going global. As expected yesterday, the defeat device is a worldwide problem, and not just the work of a rogue U.S. engineer. Volkswagen confirmed today that the software is in most of Volkswagen’s diesel engines, but that it usually is dormant. In 11 million cars with the EA 189 engine, the defeat device is very active. [Continue Reading]

News from Volkswagen’s hallway radio: Piech frustrates Winterkorn, Stadler becomes CFO

The CEO and his new CFO? Winterkorn and Stadler

The CEO and his new CFO? Winterkorn and Stadler

Until Wednesday last week, Volkswagen’s Flurfunk (Hallway Radio) rumor mill was convinced that VW CEO Martin Winterkorn would become chairman of Volkswagen’s supervisory board, and that he will take the seat vacated by Ferdinand Piech leaving in a huff. Then, a perplexed hallway radio had to get used to the idea that Volkswagen’s long-time CFO Hans-Dieter Pötsch would get the chairman job, and that Witerkorn would stay on as CEO for another two years. Turns out it was Piech himself who frustrated Winterkorn’s advancement. [Continue Reading]

Winterkorn? Pötsch? Piech? Listen to Volkswagen’s hallway radio for answers

Winterkorn BJ - Picture courtesy Bertel Schmitt

The Flurfunk was perplexed. Until yesterday, anyone with a license to tune into the hallway radio, Volkswagen’s fast and furious rumor mill, would hear that current CEO Martin Winterkorn would be promoted to the much cushier job as Chairman of Volkswagen’s Aufsichtsrat (Supervisory Board) for sure, and that the heavy lifting expected from a Volkswagen CEO would fall to current Porsche chief Matthias Müller. Then yesterday, it was announced, much to the hallway radio’s consternation, that Winterkorn would stay on as CEO for two more years. Then today, Reuters picked up that Hans-Dieter Pötsch, Volkswagen’s long-time CFO, would be nominated for the chairman slot. Hours later, Volkswagen’s PR department confirmed. The hallway radio was speechless. What happened?

[Continue Reading]

Connecting the dots: Volkswagen’s low cost car, the Great Wall affair, Piech’s ouster, and Nissan

Piech Winterkorn 2 Picture courtesy n-tv.de

Last weekend, Volkswagen CEO Martin Winterkorn told Bild am Sonntag that his company will finally build a budget car line, 2018, in China. A few days earlier, Ferdinand Piech’s older brother Ernst told Germany’s society magazine Die Bunte that Winterkorn is putting Piech’s lifetime achievement in jeopardy. Both are connected. [Continue Reading]

Winterkorn wins, Piech pouts, departs. But why?

Geschafft! Winterkorn in Beijing, where the battle was won

Victorious Wiko at the Beijing Motor Show. He did not show in Shanghai

“Ursula, we are leaving,” or words to that effect, said Ferdinand Piech to his wife Ursula, and both stepped down from the supervisory board of Volkswagen. Or maybe, it was “Ferdi, they don’t deserve you, let’s go.” They said it two hours after the board’s six-member executive committee sat down for yet another emergency meeting, this time near the Braunschweig-Wolfsburg airport, where with Volkswagen money the runway was extended to accommodate Volkswagen’s Airbus A319. The committee decided “that in view of the background of the last weeks the mutual trust necessary ?for successful cooperation no longer exists.” Ferdinand and Ursula tendered their resignation. [Continue Reading]

Volkswagen board members demand Piech’s head

Shunned in Shanghai: Piech's new favorite Wolfgang Müller . Winterkorn called in sick

Shunned in Shanghai: Piech’s new favorite Matthias Müller. Winterkorn called in sick

Piech’s planned ouster of Volkswagen CEO Martin Winterkorn could cost Piech the chairman seat, information from Germany says. Top board members opine that if Piech can’t keep the peace, Piech must go. Last week, Winterkorn found the backing of all members of the executive committee of Volkswagen’s Supervisory Board. Wiko even received Piech’s vote – after Piech was threatened with dismissal by the other members. Last week, the DailyKanban wrote: “More tiffs between the erstwhile rope team are pre-programmed.” We did not have to wait long for that. [Continue Reading]