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Audi appoints Abraham Schot as interim CEO to replace Rupert Stadler

June 19, 2018 at 12:27 pm

FRANKFURT (Reuters) - Audi on Tuesday said it has suspended Chief Executive Rupert Stadler and appointed sales executive Abraham Schot as an interim replacement with immediate effect, a day after Stadler's arrest in connection with a diesel probe.

"Stadler has requested that the Supervisory Board release him from his position in the Board of Management of AUDI AG and in the Board of Management of Volkswagen AG," Audi said in a statement.

Stadler's suspension from board duties will be temporary until the circumstances of his arrest are clarified, Audi said.

Audi, part of Volkswagen was forced to search for a new leader following the arrest of 55-year-old Stadler on Monday, almost three years after Volkswagen group admitted to rigging U.S. emissions tests on diesel engines.

Munich prosecutors said Stadler was being investigated for suspected fraud and false advertising and for his alleged role in helping to bring cars equipped with illegal software on to the European market.

(Reporting by Edward Taylor; Editing by Maria Sheahan)

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Rupert Stadler

Rupert Johann Stadler is a German businessperson who has been the head of 5 different companies. Currently, he is Chairman at Ducati Motor Holding SpA. He is also on the board of Italdesign-Giugiaro SpA. In the past Mr. Stadler was Member-Management Board at Volkswagen AG Chairman of Automobili Lamborghini Holding SpA, Chairman-Supervisory Board for MAN Truck & Bus SE, Chairman at Volkswagen Group Italia SpA, Chairman-Management Board at AUDI AG, Commercial Director at Volkswagen Audi España SA and Member-Management Board at VOLKSWAGEN FINANCIAL SERVICES AG (which are all subsidiaries of Volkswagen AG). He received an undergraduate degree from the University of Augsburg.

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Ducati Motor Holding SpA Ducati Motor Holding SpA Motor VehiclesConsumer Durables Ducati Motor Holding SpA engages in the design and manufacture of motorcycles. The firm also offers motorcycle accessories such as chassis and brake systems, electric and electronic components exhaust systems, fiberglass and plastic fibers, garage accessories, and specialty materials. The company was founded by Adriano Ducati and Marcello Ducati in 1926 and is headquartered in Bologna, Italy.	Chairman

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