Milan – Martin Winterkorn is no longer the CEO of Volskwagen. The powerful manager announced his resignation from the German company after the explosion of the scandal related to falsifying emissions tests, but wanted to reiterate its complete non-involvement. The Berlin government denies having been aware of violations of the rules, while the world continues to express concern over the incident and promised to take appropriate countermeasures.
The departure of the CEO. The immediate apologies are therefore insufficient to Winterkorn to stay in the saddle to the group by the time he admitted to having around 11 million cars ‘rigged’ to bluff emissions testing and to include Thanks to sophisticated control, performance far better than those actually put in the street. If the US Agency EPA has indicated around 500 thousand cars involved it means that there is a good slice of cars around the world to test. And in Europe it has increased the affection of customers to diesel, which is why the Old Continent is likely to be a serious problem for Volkswagen.
precisely the role of Winterkorn, who last spring he won the hard-fought battle for the leadership of VW with Ferdinand Piech, it is now the center of attention: on the other hand the manager aboard the German company since 2007 is responsible for the product and the Supervisory Board of Wolfsburg He is trying to determine what was actually aware of. The debacle of the managers, however, also affects those shareholders who only a few months ago had Winterkorn called the “best CEO can” Volkswagen explaining that he would stay in his place, with “the same vigor and success”, even after the end of 2016 , when his term would have expired.
Now, in the reconstruction of Bloomberg , would be three key people for its future: Wolfgang Porsche, who leads the family with the largest number of voting rights in Volkswagen; Bernd Osterloh, the powerful head of the union; Stephan Weil, governor of Lower Saxony and a strong veto power within the company. In the feverish hours of consultations that will follow between now and Friday they will also run the names of possible successors that may be announced just the day after tomorrow: there is already talk of Matthias Mueller, the number one Porsche, which has the support of the family.
It retrieves. The title Volkswagen remains the observed special Frankfurt Stock Exchange : the start of trading of the common stock of the Wolfsburg took to the area 105 euro, but then they are relieved and treat rising: they try to reverse the trend that has brought down the value of VW in the two trading days following the admissions test on rigged in the US. Two sessions of passion, Monday and Tuesday, they did burn securities as the bishop of the Made in Germany almost 25 billion capitalization alcolosso which also owns Audi, Skoda and Porsche. Weighing are the possible impacts of image, which will block the race to world leadership of Toyota cars to give, and the economic effects: they fear penalties of up to 18 billion in the US alone, they were set aside for 6.5 hours to help with immediate needs. Even for this, Fitch put the ratings of Volkswagen under observation with implications negative.Come happened for the title Vw, pereo, the other players in the industry – think of the German Daimler or Fca in Italy – live opening difficult and then bounce.
The political reactions. Out of the German company, discussions continue on the subject. “It ‘a framework of great seriousness and concern, ministers Galletti and Del Rio, competent on the matter, have already requested information from the companies” on the likely impacts’ contagion’ “on the Italian market,” says the Italian Minister of Economic Development, Federica Guidi . Also in Italy, the leader of Confindustria, Giorgio Squinzi, fears for the backlash in the supply chain, while the Minister of Infrastructure, Graziano Delrio , which will ensure that all that is needed to protect human health. While the ACEA, the association of European manufacturers, recognizes the “gravity of the situation” and reassured by saying that “there is no evidence that it is a problem of the sector”, at least 25 class actions have started in the US consumer.
Berlin , the Ministry of Transport states that it was “aware of the use of technology on emission controls,” responding to what is written by Die Welt , based on a response to a question of the ministry of the Greens of 28 July, which leaked that the Ministry had initiated “work on the further development of the EU regulatory framework”, in order to reduce ” the emissions “vehicles. For the minister Alexander Dobrindt are “false accusations and inappropriate”. The Guardian says – extending the EPA calculations on 11 million vehicles ‘rigged’ – that cheating emissions testing may have made Vw responsible for emissions estimated between 230 thousand and 950 thousand tons of oxides year of nitrogen. Brussels, meanwhile, are encouraged “all Member States to make the necessary investigations and to report to the EU Commission,” which “will discuss with them how best to coordinate and facilitate the exchange of information,” says the spokesperson Community market internal Caudet Lucia: “We welcome the investigations launched in Germany, France and Italy.”
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