Two More Volkswagen Executives to Lose Their Jobs Over Emissions Scandal

By Hendrik Varnholt

Two more key executives within the Volkswagen group will lose their jobs according to people familiar with the situation, shortly after Volkswagen Chief Executive Martin Winterkorn resigned over the company's admission that it cheated in U.S. in diesel emission tests that triggered a profit warning, a selloff of the share and prospects of prosecution and hefty fines.

Ulrich Hackenberg, chief technology officer of VW's Audi unit, and Wolfgang Hatz, board member for research and development at VW's Porsche AG, will lose their jobs over the scandal, two people familiar with the situation said Thursday.

VW's entire supervisory board will meet Friday. Members of the board's executive committee said after their meeting Wednesday that, after Mr. Winterkorn's resignation, further personnel decisions will be taken at Friday's meeting.

On Tuesday, Volkswagen disclosed that as many as 11 million cars were affected and possibly subject to a global recall. The company issued a profit warning and announced it was taking a EUR6.5 billion ($7.27 billion) provision against earnings to cover the costs of fixing the software.

Mr. Winterkorn's resignation Wednesday follows a calamitous week after a disclosure last Friday by the U.S. Environmental Protection Agency that Volkswagen allegedly used software on some of its Volkswagen and Audi diesel-powered cars that make them appear to run cleaner in tests than they do on the road.

Write to Hendrik Varnholt at hendrik.varnholt@wsj.com

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(END) Dow Jones Newswires

September 24, 2015 10:53 ET (14:53 GMT)

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