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Volkswagen terminates Audi CEO's contract amid emissions probe

Key Points
  • Volkswagen has terminated the contract of Rupert Stadler, the suspended chief executive of its premium brand Audi, amid an ongoing emissions probe.
  • He is leaving his posts as management board member of the Volkswagen group and as CEO of Audi with immediate effect, Volkswagen said in a statement on Tuesday.
  • Stadler was forced to step down temporarily after he was taken into custody in mid-June on suspicion of interfering with an emissions investigation. Sales executive Bram Schot is acting as interim replacement.
Rupert Stadler, CEO of German carmaker Audi, March 3, 2016. 
Albert Foss | ullstein bild | Getty Images

Volkswagen has terminated the contract of Rupert Stadler, the suspended chief executive of its premium brand Audi, amid an ongoing emissions probe.

He is leaving his posts as management board member of the Volkswagen group and as CEO of Audi with immediate effect, Volkswagen said in a statement on Tuesday.

Stadler was forced to step down temporarily after he was taken into custody in mid-June on suspicion of interfering with an emissions investigation. Sales executive Bram Schot is acting as interim replacement.

Both VW and Audi have said that Stadler is presumed innocent unless proven otherwise.

"Mr. Stadler is (leaving) because, due to his ongoing pre-trial detention, he is unable to fulfil his duties as a member of the board of management and wishes to concentrate on his defense," Volkswagen said in its statement on Tuesday.

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Autos

Tesla beats Wall Street estimates for overall vehicle deliveries

Key Points
  • Tesla delivered 83,500 vehicles during the third quarter, or 80 percent of the vehicles delivered in all of 2017.
  • Tesla is now operating at a 55 to 60 percent cost disadvantage in China, between tariffs and transportation costs.
  • It's accelerating construction of a factory in Shanghai to minimize the impact.