June 19, 2018 / 11:23 AM / 6 months ago

Audi appoints Abraham Schot as interim CEO to replace Rupert Stadler

FILE PHOTO: Audi sign is seen on the show car at the Audi Forum before the company's annual shareholders meeting in Ingolstadt, Germany May 9, 2018. REUTERS/Michael Dalder/File Photo

FRANKFURT (Reuters) - Audi (NSUG.DE) on Tuesday said it has suspended Chief Executive Rupert Stadler and appointed sales executive Abraham Schot as an interim replacement with immediate effect, a day after Stadler’s arrest in connection with a diesel probe.

“Stadler has requested that the Supervisory Board release him from his position in the Board of Management of AUDI AG and in the Board of Management of Volkswagen AG,” Audi said in a statement.

Stadler’s suspension from board duties will be temporary until the circumstances of his arrest are clarified, Audi said.

Audi, part of Volkswagen Group (VOWG_p.DE) was forced to search for a new leader following the arrest of 55-year-old Stadler on Monday, almost three years after Volkswagen group admitted to rigging U.S. emissions tests on diesel engines.

Munich prosecutors said Stadler was being investigated for suspected fraud and false advertising and for his alleged role in helping to bring cars equipped with illegal software on to the European market.

Reporting by Edward Taylor; Editing by Maria Sheahan

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