Mr Müller, 62, is hardly a brand-new broom - a fact that led one big investor to call for his replacement after less than two months. ![]() ![]() Since the US Environmental Protection Agency caught Volkswagen cheating in emissions tests in September, the German carmaker has made more than a dozen changes to the ranks of its senior management.įrom installing a new research and development chief to creating a board position for integrity and legal affairs, the company has moved swiftly to shake up the “VW system” and show commitment to overcoming the biggest scandal in its history.īut by far the most important change was the first one: the elevation of Matthias Müller, former Porsche boss, to the role of VW group chief executive - just seven days after the scandal broke. New chief executives have pledged to sweep away the old cultures, but they will also need to buff up heavily tarnished reputations. But, for once, not one of these high-profile cases involved bankers.Īll of them, however - at Volkswagen, Toshiba and Industrivärden, respectively - have involved big losses for shareholders, or billions of dollars of potential fines and serial lawsuits. In 2015, company executives, as before, found themselves mired in financial scandal. Trying to deceive US regulators, inflating profits, even flying their pets around on corporate jets. ![]() Simply sign up to the US & Canadian companies myFT Digest - delivered directly to your inbox.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |