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Life in the fast lane: Volkswagen's GC Rustam Juma on the future of automotive. Juma speaks about VW's legal challenges, the electrification shift, ESG and sustainability. https://hubs.la/Q02HRn8Q0

Have a read of some of the things we are up to from our leader and General Counsel and Corporate Secretary, Rustam Juma.

Life in the fast lane: Volkswagen's GC Rustam Juma on the future of automotive. Juma speaks about VW's legal challenges, the electrification shift, ESG and sustainability. https://hubs.la/Q02J4tD_0

Volkswagen's Dieselgate Scandal: A Timeline of ESG Failures #Volkswagen Volkswagen's Dieselgate: When Deception Drives a Company Off the Road of Sustainability and Trust The Volkswagen diesel emissions scandal, known as "Dieselgate," is a prime example of how neglecting Environmental, Social, and Governance (ESG) factors can lead to severe consequences. Here's a condensed timeline: 1. 2008-2015: Volkswagen installs illegal "defeat devices" in diesel engines to cheat emissions tests. 2. September 2015: The US EPA issues a Notice of Violation to Volkswagen, and the company admits to installing defeat devices in 11 million vehicles worldwide. 3. September 2015: CEO Martin Winterkorn resigns, and Volkswagen's stock price plummets. 4. October 2015: Volkswagen faces numerous lawsuits, including class-action suits from affected vehicle owners. 5. November 2015: Regulators reject Volkswagen's initial recall plan. 6. January 2016: The U.S. Department of Justice files a civil lawsuit against Volkswagen. 7. June 2016: Volkswagen agrees to a $14.7 billion settlement with U.S. authorities. 8. 2016-2021: Volkswagen continues to face legal and financial consequences, including criminal charges and ongoing recalls. The Dieselgate scandal highlights the importance of ESG considerations in corporate decision-making. Volkswagen's disregard for environmental regulations and lack of proper governance led to severe damage to its reputation, financial stability, and customer trust. As a result, the company has had to invest heavily in rebuilding its image and transitioning towards a more sustainable future. #Volkswagen #Dieselgate #WhenESGGoesWrong #CorporateLessons #30days30CorporateLessons

In our latest video, we take a critical look at the Volkswagen emissions scandal, a pivotal moment that rocked the automotive industry and redefined corporate accountability. This comprehensive analysis delves into how Volkswagen's quest for market dominance led to one of the most significant breaches of trust and environmental standards in recent history.  From the initial discovery to the global fallout, we explore the intricate details of the deception, the technological sleight of hand behind the "defeat devices", and the profound impact on stakeholders worldwide. Join us as we dissect the lessons learned and the path forward for sustainable business practices. 👥 For professionals across the automotive, environmental, and corporate governance sectors, this is a must-watch. Not only does it offer insights into the importance of ethical leadership, but it also highlights the critical role of transparency in today's business world. 💡 Whether you're a leader, innovator, or advocate for sustainability, there's something in this story for you. Let's take this opportunity to reflect on our collective responsibility to drive change and uphold the highest standards of integrity. 🔗 (https://lnkd.in/emti9FpC) #VolkswagenEmissionsScandal #CorporateEthics #Sustainability #AutomotiveIndustry #Leadership #Transparency #EnvironmentalImpact #BusinessIntegrity #Innovation #ChangeMakers

Dieselgate - The Volkswagen Emissions Scandal The Volkswagen emissions scandal of 2015 shook the automotive industry, revealing a systematic attempt to sidestep emissions regulations. Here's a closer look at its key aspects: 1. Motivation: Volkswagen installed defeat devices to meet emissions standards while marketing their diesel cars as "clean diesel" vehicles. 2. Detection: Researchers found significant disparities between lab tests and real-world emissions, exposing the scandal. 3. Impact: Volkswagen faced lawsuits, investigations, and settlements worldwide, resulting in billions of dollars in fines and damaged reputation. 4. Executive Accountability: CEO Martin Winterkorn and other executives faced scrutiny, leading to Winterkorn's resignation. 5. Regulatory Response: Tighter emissions testing and oversight ensued, emphasizing transparency and accountability. This scandal underscored the importance of honesty and integrity in business. Volkswagen's tarnished reputation hindered financial recovery, highlighting the link between trust and profitability. It also prompted calls for better corporate governance. In essence, the Dieselgate scandal serves as a reminder of the lasting impact of ethical lapses on industry integrity. Let's remember: honesty is the best policy, not just for Volkswagen, but for all businesses. It's the key to building trust and securing long-term success. #VolkswagenScandal #EthicalBusiness #FinancialLessons #ReputationManagement #LinkedInforcreators #Linkedincreator

Certified Profit Stream™️Designers guide their clients through a number of activities to help them manage their relationships with Suppliers, Regulstory Agencies, and Customers. Sometimes these activities can be quite challenging, especially when a company has a history of lying to its customers. Let’s consider Volkswagen Group. Historically, they designed software to evade emissions testing. Eventually, this was discovered, and Volkswagen paid significant fines and suffered quite substantial losses in brand equity. Over the past few years, VW has decided to focus on EVs. Let’s assume that VW finds it is harder than expected to win in the EV market. For example, perhaps achieving competitve range targets is harder than expected. How might VW design software to mislead customers and regulators? How could internal teams and customers identify the deception? Understanding how various actors can steal helps us design solutions to protect our rights, maintain our value, and promote our brand. #ethics #brand #compliance

🚨𝗟𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽 𝗶𝗻 𝗖𝗿𝗶𝘀𝗶𝘀: 𝗟𝗲𝘀𝘀𝗼𝗻𝘀 𝗳𝗿𝗼𝗺 𝗩𝗼𝗹𝗸𝘀𝘄𝗮𝗴𝗲𝗻'𝘀 𝗗𝗶𝗲𝘀𝗲𝗹𝗴𝗮𝘁𝗲🚨 In 2015, Volkswagen was caught using software in its diesel vehicles that cheated emission tests, causing vehicles to emit up to 40 times the legal pollution limit under normal conditions. This scandal, known as "Dieselgate," not only led to legal battles but also had to potential to severely damage Volkswagen's reputation. H͟o͟w͟ ͟t͟h͟e͟ ͟B͟o͟a͟r͟d͟ ͟R͟e͟s͟p͟o͟n͟d͟e͟d͟ 1. Leadership: The board had CEO Martin Winterkorn resign, addressing accountability concerns 2. Strategic Overhaul: Volkswagen pivoted towards electric vehicles and revamped its compliance and governance strategies to prevent future breaches. 3. Financial Management: The board set aside substantial funds for fines, vehicle refits, and customer compensation. 4. Open Communication: The company was transparent in its crisis communication, admitting fault and actively engaging stakeholders. Each of these steps highlight critical elements of effective board management in times of crisis. Volkswagen’s journey offers invaluable insights into the dynamics of corporate governance and the importance of ethical leadership. You can find the link to an article with more insights in the comments below #Governance #CrisisManagement #CorporateResponsibility #EthicalLeadership #BoardOfDirectors

Rainmaker Founder & CEO, Antony Alex , takes you through the shocking Volkswagen Emissions Scandal of 2015. Discover how a giant in the auto industry cheated emissions tests, the immense fallout, and the lessons on ethical business practices. Watch now to learn why a strong culture of compliance is crucial, and don't forget to share your thoughts and experiences in the comments below. #VolkswagenScandal #EmissionsFraud #CorporateEthics #ComplianceCulture #BusinessIntegrity #AntonyAlex #RainmakerInsights #AutoIndustry #2015Scandal #EthicalBusiness #CorporateResponsibility #ComplianceMatters

Ever wonder what happens when corporate governance fails, and ethical oversight is ignored? Let’s rewind to one of the most shocking corporate scandals in recent history—the Volkswagen Dieselgate. A deliberate scheme to cheat emissions tests for over 11 million cars, this scandal shattered the company's reputation and led to massive legal, financial, and environmental repercussions. It wasn’t just a technological failure—it was a failure of governance, ethics, and responsibility. The key takeaway? Compromising ethics for short-term gain can lead to irreversible damage to a company’s reputation and the communities it serves. Volkswagen paid a hefty price—over $30 billion in fines and settlements—but the trust lost, and environmental damage was far costlier. If you're curious about how this corporate disaster unfolded and what we can learn from it, dive into the full story in this week’s blog: https://lnkd.in/d64kuxkF Take a moment to read, reflect, and share it with your network if you believe these lessons are worth spreading. #ESG #casestudy #Governance #Volkswagen #Dieselgate