The supervisory board of Volkswagen's premium carmaker Audi will meet on Monday to decide on a management reshuffle as the company struggles to shake-off its emissions scandal hangover, several people familiar with the matter told Reuters. Ivor Bennett reports
It's nearly two years since the diesel emissions scandal first surfaced at Volkswagen. And its toxic legacy still won't go away. Sources have told Reuters that VW-owned Audi is poised to make a management reshuffle, as it tries to finally turn a corner. SOUNDBITE (English) DARREN SINDEN, MARKET ANALYST, PEPPERSTONE, SAYING: "I think they want to get rid of any bad habits and anyone associated with that and try to focus on the future which will be challenging enough without these other issues." To begin with, Audi managed to steer clear of the scandal But after its offices were raided by German authorities in May, the company came under pressure from investors to come clean. That, in turn, prompted a massive recall of 850,000 vehicles. SOUNDBITE (English) DARREN SINDEN, MARKET ANALYST, PEPPERSTONE, SAYING: "I see Audi probably as one of the top two brands not only in cars in the world but in brands in general and therefore it's very important to VW. I understand it Audi is the largest producer of revenue within the VW Group so they'll want to do everything they can to get them back on course." It's understood Audi CEO Rupert Stadler will keep his job in the reshuffle Sources revealing that he still has the confidence of the Porsche and Piech families that control VW. But the company's finance director, sales chief and production head are all expected to go when the supervisory board meets on Monday.