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Volkswagen continues hunt for new chairman

Volkswagen is going to need a new chairman. And the question is not only who that will be, but when he or she will be selected. The German automaker held its Annual General Meeting in Hannover yesterday, the first in a baker's dozen years without Ferdinand Piech presiding as chairman. The gavel was wielded instead by Berthold Huber, a labor representative on the board who was named as interim chair. Piech was ousted along with his wife Ursula (who also sat on the board) after a failed attempt to push out Martin Winterkorn as CEO. According to Winterkorn, in speaking with Reuters in an article published by Automotive News, the industrial giant is working hard at finding a new chairman in short order. "The executive committee and the supervisory board are working hard to swiftly resolve the remaining issues with regard to the composition of the supervisory bodies in the best possible manner," Winterkorn said. The publication's German counterpart, however, paints a different picture. Speaking with Stephan Weil, the president of Lower Saxony who sits on the board as a shareholder representative, Automobilwoche says Volkswagen is in no rush to name a new chairman. The truth is probably somewhere in the middle. What is clear, however, is that the new chairman will need broad support from the company's labor representatives as well as its shareholders – including the Porsche and Piech families and government representatives from Lower Saxony and Qatar. Porsche Automobil Holding SE holds 50.7 percent of the company's shares, the State of Lower Saxony another 20 percent, Qatar 17 percent and the remaining 12.3 percent by other shareholders. Some have speculated that Winterkorn could be promoted to the chairmanship of the Supervisory Board, but could end up having his term as chief executive (and chairman of the managing board) extended instead, with the chairmanship going to another candidate. Related Video:

Auction for first US VW e-Golf raises $41,400 for Global Green charity

Would having Jay Leno on hand have changed the outcome? That's what executives at Volkswagen might be asking after the German automaker auctioned off the company's first electric car in the US for around $6,000 over MSRP. VW auctioned off the first Volkswagen e-Golf in the US to raise money for the environmental non-profit Global Green USA. Bruce Oberg, an EV enthusiast and previous VW owner, proudly cut a $41,400 check for the car, which has a 116 miles per gallon-equivalent rating and is said to be able to go about 80 miles on a single charge. At your local dealer (depending on where you live), the e-Golf starts at $35,445. Sales start later this month in 11 states: California, Massachusetts, New York, Vermont, Oregon, Maine, Maryland, New Jersey, Connecticut, Rhode Island and Washington, DC. The $6,000 premium for first-dib rights for the e-Golf is nice, but it doesn't compare to what BMW worked out this summer. In August, the first i8 plug-in hybrid in the US was auctioned off at California's Pebble Beach Concours d'Elegance for $825,000 (to an unidentified buyer). That's about six times the car's sticker price, but this special edition came with Louis Vuitton luggage and was presented by noted car buff Leno. VW's press release below. VOLKSWAGEN E-GOLF RAISES MONEY TO BENEFIT GLOBAL GREEN USA AFTER A SUCCESSFUL CHARITY AUCTION Nov 4, 2014 Winning bidder claims first VW electric vehicle as the car begins to ship to select U.S. dealerships Herndon, VA (November 4, 2014) – Volkswagen of America, Inc. today announced that the auction of the first 2015 all-electric Volkswagen e-Golf has raised $41,400, with proceeds benefitting the national environmental non-profit Global Green USA and its efforts to advance smart solutions to climate change. The winner of the auction, which ran from October 8–29 on CharityBuzz.com, became the first U.S. driver to own Volkswagen's all-new, fully-electric vehicle. "Volkswagen's commitment to e-mobility and sustainability runs deep. We could not be more proud that the e-Golf has helped raise money to benefit the efforts of Global Green USA, an organization that shares in our dedication to the environment," said Michael Horn, president and CEO, Volkswagen Group of America, Inc.

German prosecutors have recorded calls between VW bigwigs talking dieselgate

It's barely possible to believe how poorly Volkswagen continues to handle dieselgate. Depending on which day you catch the news, the German carmaker embodies the corporate venality of "Michael Clayton," the comic blundering of the Coen Brothers' "Burn After Reading," and the every-man-for-himself vengeance of "Reservoir Dogs." Today is Tarantino day, with news that German prosecutors have recordings of phone calls between former Audi and Porsche development boss Wolfgang Hatz, ex-Volkswagen Group executive Matthias Muller, and current Porsche executives Oliver Blume and Michael Steiner. Hatz made the calls to the trio in November 2015, two months after Volkswagen admitted its diesel-particulate sins to the U.S. Environmental Protection Agency. Hatz was still employed at the time, and in his company car. Who recorded the calls? His wife. Hatz and his missus apparently saw the storm coming and started stacking defenses early. Hatz's wife, who can be heard encouraging Hatz during at least one call, sent the recordings to Hatz's attorney from her mobile phone. According to a Google translation of the German newspaper Handelsblatt's report, she included the note, "Here is a very long, but quite informative conversation on the current situation with useful formulations." The report in Handelsblatt said that in Germany it is generally "not allowed" to record a conversation and pass it on to a third party. We don't know how the authorities will handle this matter, since prosecutors found the recordings in e-mail attachments on Mrs. Hatz's mobile phone. Remember, when the diesel scandal broke, VW spent months saying that only a small number of low-level personnel were behind it, and all of the higher-ups had been blindsided. Ex-CEO Martin Winterkorn claimed to be "stunned that misconduct on such a scale was possible in the Volkswagen Group." Winterkorn successor Matthias Muller said, "according to current information, a few developers interfered in the engine management." Former VW USA honcho Michael Horn told a congressional committee that "a couple of software engineers" programmed the software for reasons no one could understand. In the recorded conversations, Hatz apparently called Muller to find out how VW planned to treat him.