Volkswagen CEO Martin Winterkorn’s future in doubt amid emissions scandal

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>The future of Volkswagen CEO Martin Winterkorn hangs in the balance in the wake of an emissions rigging scandal engulfing the German car manufacturer&period;<&sol;p>&NewLine;<p>After falling by over a quarter in two days since the revelation Volkswagen had been trying to dupe US testers for its diesel cars&comma; the company’s share price has modestly recovered&period;<&sol;p>&NewLine;<p>It was up 3&period;4&percnt; at 115 euro after declines of 17&percnt; and 20&percnt; in the first two days of the week that saw nearly 25 billion euro &lpar;£18 billion&rpar; wiped off the company’s market value&period;<&sol;p>&NewLine;<p>So far&comma; no one is known to have lost their job over the scandal since it was revealed last Friday&period;<&sol;p>&NewLine;<p>Mr Winterkorn&comma; whose contract was scheduled to be extended by two years to 2018 at a meeting of the supervisory board on Friday&comma; is under the most pressure&period;<&sol;p>&NewLine;<p>The scandal has raised questions over his future&period;<&sol;p>&NewLine;<p>German media are reporting that the board’s executive committee is meeting to discuss the crisis&period;<&sol;p>&NewLine;<p>The Environmental Protection Agency has said Volkswagen could face fines of as much as 18 billion US dollars &lpar;£11&period;7 billion&rpar;&period; Other countries&comma; such as South Korea&comma; have also ordered investigations into emission levels of VW cars and some law firms in North America have filed class action lawsuits&period;<&sol;p>&NewLine;<p>Volkswagen said 11 million of its vehicles worldwide contained the so-called &OpenCurlyDoubleQuote;defeat device” that allowed the cars to beat the testers&period; The revelation is an increase from the 482&comma;000 cars previously identified by the US’s Environmental Protection Agency&period;<&sol;p>&NewLine;<p>Mr Winterkorn said he was &OpenCurlyDoubleQuote;endlessly sorry” and asked in a video message for &OpenCurlyDoubleQuote;your trust on our way forward”&period;<&sol;p>&NewLine;<p>VW is yet to explain who installed the software&comma; under what direction&comma; why and who knew about it&period; Mr Winterkorn said he does not yet have all the answers&comma; but also that it would be wrong to cast doubt on the work of the whole workforce &OpenCurlyDoubleQuote;because of the grave mistakes of a few”&period;<&sol;p>&NewLine;<p>The deputy leader of Germany’s IG Metall industrial union&comma; Joerg Hofmann&comma; has warned against premature personnel decisions and said &OpenCurlyDoubleQuote;all the facts must be on the table first”&period;<&sol;p>&NewLine;<p>New York lawyer General Eric T Schneiderman said he had opened an investigation into the Volkswagen cars and would collaborate with other states to enforce consumer and environmental protections in the case&period;<&sol;p>&NewLine;<p>Volkswagen has set aside an initial 6&period;5 billion euro &lpar;£4&period;7 billion&rpar; to cover the fallout and &OpenCurlyDoubleQuote;win back the trust” of customers&period;<&sol;p>&NewLine;<p>The scandal is also a huge problem for a brand long identified with trustworthiness and reliability&period; And there are concerns that could spill over into a wider image problem for goods made in Germany&period;<&sol;p>&NewLine;<p>The head of the German exporters’ association&comma; Anton Boerner&comma; urged Volkswagen to put the facts on the table&period; &OpenCurlyDoubleQuote;Whether collateral damage arises for the image of German products also depends on that&comma;” he told Germany’s Bild newspaper&period;<&sol;p>&NewLine;<p>He added&comma; however&comma; that the good image of German goods &OpenCurlyDoubleQuote;is rooted in excellent products from thousands of companies and&comma; thank God&comma; does not depend on a single company”&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed2e556c20f">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; 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