VW US chief Michael Horn steps down amid emission scandal
- 8 years ago
Volkswagen's straight-talking US chief Michael Horn has quit the automaker as it struggles with the fallout of a massive pollution cheating scandal, a decision that caught the industry by surprise.
"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," said Herbert Diess, chief executive of the Volkswagen passenger cars brand.
VW, which until recently had ambitions to become the world's biggest carmaker, is battling to resolve its deepest-ever crisis sparked by revelations that it installed emissions-cheating software into 11 million diesel engines worldwide.
On top of still unquantifiable regulatory fines in a range of countries, VW is facing a slew of legal suits, notably in the United States and Germany, from angry car owners, as well as from shareholders seeking damages for the massive loss in the value of their shares since September.
"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," said Herbert Diess, chief executive of the Volkswagen passenger cars brand.
VW, which until recently had ambitions to become the world's biggest carmaker, is battling to resolve its deepest-ever crisis sparked by revelations that it installed emissions-cheating software into 11 million diesel engines worldwide.
On top of still unquantifiable regulatory fines in a range of countries, VW is facing a slew of legal suits, notably in the United States and Germany, from angry car owners, as well as from shareholders seeking damages for the massive loss in the value of their shares since September.