The VW share price is plummeting. Credibility of the many VW brands is affected. Perhaps their F1 ambitions have just gone up in smoke?
“We screwed up”, “we’ve been dishonest” and “we’re truly sorry” says their US CEO Michael Horn. But is that good enough?
Clearly the emissions scandal will run and run with lots of new whistleblowers adding to industry flames. VW Group testing software in the US appears to have been tinkered with resulting in certain diesel engines appearing to run cleaner than they really do – when tested by agencies appointed by manufacturers that is.
I’m relieved to read the SMMT (Society of Motor Manufacturers and Traders) saying this couldn’t happen in the UK because of the EU’s independent testing regime. Let’s hope they’re right.
Interestingly the main VW Board is all male. And what has the likes of McKinsey been telling us for years? That women matter because we bring ethical values, a collaborative approach and environmental awareness to Board room decisions. In short, where gender balance exists organisations are healthier from the point of view of finance and efficiency. This isn’t rocket science guys but it’s clear you weren’t listening to the gender message when you should have been.
It looks to me that the VW Board could do with female Executive Board Directors to teach them business values and ethics. They were too busy studying the wrong metrics – now see how this negligence affects their beloved balance sheet…
But an equally worrying issue is surely, if the likes of main Board Directors at VW can be THIS unethical, no wonder the global motor industry suffers the image it does. Because it seems to be TRUE of the very top?
Will any of those male Directors held to account be replaced by women?
Let’s hope so but I’m not holding my breath…
Finally let’s hope this is a scandal purely involving the VW Group… but let’s not forget the potential reach – their prestigious brands include VW, Audi, Seat, Skoda, Bentley, Bugatti, Lamborghini and Porsche.
How could this happen in such a family, unless high level individuals knew and condoned this… That’s shocking.