According to Reuters, a spokeswoman for the Volkswagen Group said on Wednesday that Matthias Gruendler, the chief financial officer of the Volkswagen Trucks and Buses division, has resigned for personal reasons and has not yet found a suitable replacement.
(Source: TheRakyatPost)
Volkswagen's truck business was established in 2015. It is mainly composed of three truck manufacturers whose shares are held by the public. Volkswagen has stated that it can list its truck business as part of its expansion plan or issue debts.
Gruendler is also a board member of Navistar International, a US truck colleague. The company stated in an open filing last Friday that Gruendler plans to resign from the company’s board of directors and added that his decision to withdraw was for personal reasons only, in relation to the company’s strategy or operations. Any disagreement has nothing to do with it.
In April of this year, the Volkswagen Group's truck and passenger car business unit had considered continuing to increase its holdings of Navistar International on the basis of an initial shareholding of 16.9%.
Not long ago, Volkswagen CEO Herbert Diess went to the United States to testify, mainly to clarify the circumstances involved in the carbon emissions scandal. The former CEO of the Volkswagen Group, Martin Winterkorn, was recently accused of 'diesel doors'. The United States sued, when foreign media reported that, in extreme circumstances, this may cause Winterkorn to lose all personal property.
The 'Diesel Door' scandal has plagued the Volkswagen Group for a long time and gave its gains. The brand image has caused a severe blow.
As of now, the Volkswagen Group has lost 25 billion euros because of the scandal. The latter is used to pay fines, compensation, and repurchase of vehicles involved. In addition, the Group faces many risks at the legal level. It is expected that there may be more successors. The top executives face resignation. Before that, about 6 former VW executives were considered to stay in Germany and evade the US public prosecutors’ responsibility.
