CEO Rupert Stadler may not stay until end 2022 because of board pact

Embattled Audi CEO Rupert Stadler just got a five-year contract extension previous month because of a contract among supervisory board members that he is not going to serve out his complete term, 2 sources close to the company’s supervisory board informed Reuters.

For how long Stadler will remain in his existing position stays uncertain, the sources stated. Stadler’s contract was increased on May 17 until end-2022.

Considering that his contract was extended, Stadler has come under further pressure after it emerged that Munich prosecutors had broadened an investigation into the premium automaker and following Germany’s transport ministry alleged Audi of cheating on emissions tests.

Munich prosecutors have been investigating Audi on allegation of fraud and criminal advertising in the United States, where parent Volkswagen’s emissions scandal emerged in September 2015.

They have broadened the query to include vehicle sales in the brand’s home area, a spokesperson for prosecutors stated previously this week.