23:25 GMT31 October 2020
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    The fate of Volkswagen’s chief executive may be sealed at a board meeting on Tuesday.

    MOSCOW (Sputnik) – The fate of the embattled German car manufacturer Volkswagen’s chief executive may be sealed at a board meeting on Tuesday, local media reported.

    Volkswagen admitted that around 11 million of its vehicles used software to downplay emission levels after the US government environmental watchdog accused it of falsifying test results.

    The company’s senior supervisory board members pushed forward their meeting, originally scheduled for Wednesday, to late Tuesday, according to the regional Hannoversche Allgemeine Zeitung.

    The newspaper cited board sources as saying that Volkswagen CEO Martin Winterkorn had lost the support of major shareholders.

    Winterkorn apologized for the wrongdoing in a video statement earlier, but said he would not resign from his post.

    The company also announced that it would earmark about 6.5 billion ($7.2 billion) to cover necessary service measures and perform public relations damage control for projected losses to its reputation.

    The US Environmental Protection Agency said on Friday that the ensuing fines against Volkswagen could reach $18 billion.

    Later media reports cited participants as saying the meeting is expected to continue on Wednesday, while the full 20 members of the board could officially decide Winterkorn's fate on Friday.

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    Tags:
    Volkswagen, Martin Winterkorn, Germany
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