The captain is leaving the ship at Volkswagen
Approximately 6 months after the carbon emission scandal broke, Michael Horn the Chief executive officer of Volkswagen is leaving the company after 2 years of dedicated services at this position through mutual agreement.
The news fell on Thursday, the Chief executive officer of Volkswagen has decided to leave his position within the company while it is still struggling to fix the defective diesel vehicles with the U.S regulators. Consequently, Hinrich Woebcken another U.S executive will take over the duties of Michael Horn on an interim basis.
Last September, when the scandal broke, Michael Horn declared that the German company has been dishonest about the emissions tests and promised that the automaker will invest all the resources needed to fix the defective diesel cars. However, only a month after this harrowing statement, he retracted and declared that it was the fault of only a few individuals. Besides, he even told the Congress that he was not aware that the emissions’ tests have been falsified.
The departure of Horn is creating a lot of upheavals and a series of meetings are planned among the other executives in order to discuss the matter. This change in management is not seen as a good thing as its repercussions can put the company more at risk. It is to be noted that the sales of Volkswagen shed 14 percent since the beginning of the year and that even its new diesel vehicles are facing hard days due to this emission scandal.