There seems to be no end to the travails of Martin Winterkorns, the 68 years old Chief executive officer of Volks wagen. The management of VW has gathered today to make an appointment for Friday , which is set to discuss the issue of the Ceo. Industry analyst believe that there will be a change of guards soon to assuage investors and to bring them back.
Olaf Lies, a member of VW’s supervisory board and also the economy minister for the state of Lower Saxony, which owns 20percent of VW, said there would be management changes.
“I am sure that there will be personnel consequences in the end, there is no question about it,” he told Reuters.
Martin Winterkorns, had been investigated for employing software in VW vehicles that cheat on pollution tests. The attorney general of New York Eric Schneiderman released a statement saying "No company should be allowed to evade our enviromental laws or promise consumers a fake bill of goods. That is why my office is investigating trouble reports that millions of volkswagen cars carried software designed to cheat emission tests that protect our enviroment. We will seek to uphold New York's strong tradition of consumer and enviromental protections as this investigation proceed. We look forward to collaborating with Attorney Generals across the nation on this matter." The Society of Motor Manufacturers and Traders, which supports the motoring industry in the UK also has come out to comment on the VW issue saying it does not affect other auto brands and assured UK consumers of strict compliance with EU laws. It said all cars in the UK must complete a standard emission test which is witnessed by an independent government appointed agency. They further admitted that the current testing for vehicle is obsolete and seek an agreement from the European Commission for a new emissions test that embraces new testing technology.
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