Corporate governance volkswagen scandal

  • How did Volkswagen handle the scandal?

    Volkswagen announced plans in April 2016 to spend €16.2 billion (US$18.32 billion at April 2016 exchange rates) in relation to the scandal, and agreed in June 2016 to pay up to $14.7 billion to settle civil charges in the United States..

  • What are the corporate governance failures in the VW scandal?

    Three-pronged failure.
    The VW crisis is the result of a three-pronged governance and culture failure.
    The three spokes were: marketing, risk management and internal controls and the failure of these three parts to connect.
    Reputation loss follows in part from the approach to marketing.Dec 4, 2015.

  • What caused the governance failure at Volkswagen?

    The key feature of Volkswagen's board that appears to have led to these issues is a lack of independent directors..

  • What is the corporate scandal in Volkswagen?

    In May 2014, ICCT published WVU CAFEE's findings and reported them to the California Air Resources Board (CARB) and the United States Environmental Protection Agency (EPA).
    In September 2015, the EPA announced that Volkswagen had violated the Clean Air Act by installing illegal software into their diesel vehicles..

  • What were the main corporate governance issues at Volkswagen?

    Three-pronged failure.
    The VW crisis is the result of a three-pronged governance and culture failure.
    The three spokes were: marketing, risk management and internal controls and the failure of these three parts to connect.
    Reputation loss follows in part from the approach to marketing.Dec 4, 2015.

  • Volkswagen announced plans to refit the diesel engines of all 11 million affected vehicles, with some countries like Germany ordering full recalls.
    A July 2020 report by the Federal Trade Commission also found that Volkswagen has paid out over $9.5 billion in settlement funds.
  • VW brands are losing ground in burgeoning Chinese market
    Volkswagen Group's European first quarter market share hit a five-year low following the emissions scandal that saw it admit in September to installing a 'cheat' device on 11 million of its diesel cars worldwide to pass official pollution tests.
Dec 4, 2015The VW crisis is the result of a three-pronged governance and culture failure. The three spokes were: marketing, risk management and internal 
Oct 4, 2015A key weakness at VW remains the lack of diversity of opinion and expertise on the company's supervisory board, experts say. The 20-member 

Is Volkswagen a systemic problem in German corporate governance?

Volkswagen (VW) will pay US$4

3 billion in criminal and civil penalties, and six executives and employees have been indicted

But the VW scandal is not indicative of systemic problems in the German Corporate Governance system

Is VW culture to blame for silence over emissions scandal?

VW culture to blame for silence over emissions scandal, ex-manager says in trial | Reuters A former Volkswagen manager, who is on trial over the carmaker's emissions-cheating scandal, blamed company culture on Thursday for his and others' silence on the matter, but said he would have acted differently had he known the consequences

What is the Volkswagen scandal?

Like some other crises and scandals that periodically occur in the business community, the Volkswagen (“VW”) scandal once again highlights the devastating consequences of corporate misconduct, once publicly disclosed, and the media storm that generally follows the discovery of such significant misbehaviour by a major corporation


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