WOLFSBURG (dpa-AFX) - Volkswagen AG (VKW.L, VLKAF.PK, VOW.BE) said that Rupert Stadler, the imprisoned chief executive officer of its luxury brand Audi AG (AUDVF.PK), will leave both companies immediately.
Stadler remains in jail in Germany after he was arrested in June following a probe into the car maker's emissions cheating.
Volkswagen said, 'The supervisory boards of Volkswagen AG and AUDI AG have today consented to the conclusion of an agreement with Rupert Stadler on the termination of his offices as a member of the board of management of Volkswagen AG and chairman of the board of management of AUDI AG as well as of his service agreements. Mr. Stadler is leaving the companies with immediate effect and will no longer work for the Volkswagen Group.'
Volkswagen said. Stadler is doing so because, due to his ongoing pretrial detention, he is unable to fulfil his duties as a member of the board of management and wishes to concentrate on his defence. The contractual execution depends on the course and outcome of the criminal proceedings.
Rupert Stadler began working for AUDI in 1990 and has worked for the Volkswagen Group ever since. He joined the board of management of AUDI AG on 1 January 2003 and was made chairman on 1 January 2007. He was also appointed to the board of management of Volkswagen AG on 1 January 2010.
Separately, Volkswagen of America, Inc. reported sales of 30,555 units delivered in September 2018, a decrease of 4.8 percent over September 2017. With 266,228 units year-to-date in 2018, sales have now risen 5.5 percent this year to date.
The company noted that September sales were impacted by delays in the certification process caused by a backlog in meeting new Worldwide Harmonised Light Vehicle Test Procedure standards. Certification delays pushed back the arrival of some model year 2019 vehicles, limiting inventory for the month.
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