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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (192697)	9/23/2015 5:51:34 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 206084

Volkswagen Group needs to look for a new CEO who is perhaps an attorney with experience with disaster management, following former Chairman Ferdinand Piëch's destruction of the company. I expect Martin Winterkorn is receiving a very large severance payment to retain his loyalty and will have little problem finding a new position if he were to want one - perhaps as head of Volkswagen charities, another automaker or other large German company. On the other hand, fired former Chairman, Ferdinand Piëch (grandson of the designer of the original VW bug People's Car) and the lower level employees who cooperated with Piëch likely face criminal charges. As Martin Winterkorn correctly said, "“I am shocked by the events of the past few days. Above all, I am stunned that misconduct on such a scale was possible in the Volkswagen Group. As CEO I accept responsibility for the irregularities that have been found in diesel engines and have therefore requested the Supervisory Board to agree on terminating my function as CEO of the Volkswagen Group. I am doing this in the interests of the company even though I am not aware of any wrong doing on my part. Volkswagen needs a fresh start – also in terms of personnel. I am clearing the way for this fresh start with my resignation. I have always been driven by my desire to serve this company, especially our customers and employees. Volkswagen has been, is and will always be my life. The process of clarification and transparency must continue. This is the only way to win back trust. I am convinced that the Volkswagen Group and its team will overcome this grave crisis." Piëch won't receiving a lot of social invitations from the Porsche family for the rest of his life.