Volkswagen’s emissions scandal has claimed its highest-ranking scalp so far in the country where the crisis started, as Michael Horn said he would step down as head of the US operations “to pursue other opportunities”.
Hinrich Woebcken, the newly-appointed head of Volkswagen’s North American region, will serve as an interim replacement for Mr Horn, who has been the face of VW in the US ever since the company’s cheating over emissions became public in September.
Herbert Diess, head of the core Volkswagen brand, said he wanted personally to say “thank you” to Mr Horn for the work he had done since taking over in the US in January 2014.
“During his time in the US, Michael Horn built up a strong relationship with our national dealer body and showed exemplary leadership during difficult times for the brand,” Mr Diess said.
The company gave no indication of why Mr Horn — whom dealers had demanded to have stay in place after it became public that the company had cheated on some diesel vehicles’ emissions tests — was leaving. His departure was “effective immediately”.
Michelle Krebs, an analyst at Autotrader.com, the car information site, said Volkswagen appeared to be trying to start fresh with a clean slate.
“But still what is lacking is a clear plan for helping owners of these vehicles and a plan forward for the brand,” she said.
Since the scandal broke, Mr Horn had often appeared frustrated with the group’s Germany-based management. The irritation was most obvious during a congressional hearing in October when Mr Horn was asked about the company’s official explanation that the cheating on tests was the work of only a small group of engineers, not a corporate decision. Engineers circumvented the tests by writing a “defeat device” that detected when an emissions test was under way into the emissions control software.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.