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Tag: boss

Audi boss arrested over 'dieselgate' scandal

Audi boss arrested over 'dieselgate' scandal

Business
The chief executive of Audi has been detained by German authorities investigating the "dieselgate" scandal at parent firm Volkswagen. Prosecutors in Munich said Rupert Stadler - the most senior group official to be held since the emissions saga began almost three years ago - was arrested at home in the early hours following a search of the property last week.They said his detention was linked to fears he might obstruct their continuing investigation, adding that he had been remanded in custody by a judge.Audi responded by insisting there was a presumption of innocence in the case involving Mr Stadler, who has led the Audi division since 2007. Image: Mr Stadler is a German national who has held senior positions within VW since 199...
Firms will have to justify worker to boss pay gap

Firms will have to justify worker to boss pay gap

Business
Large firms will have to publish and justify their chief executives' salaries and reveal the gap to their average workers under proposed new laws. UK listed companies with over 250 staff will have to annually disclose and explain the so-called "pay ratios" in their organisation.The move comes after years of shareholder and public outrage over bumper chief executive pay at firms such as Persimmon, WPP, BP, Shell, Lloyds, Astrazeneca, Playtech and William Hill.Last week housebuilder Persimmon admitted a raft of failures that led to an embarrassing shareholder rebellion over pay as MPs slammed an "egregious" pay deal for top bosses worth over £100m.The company's chairman and the head of the remuneration committee resigned after anger over their bonuses:: Persimmon bo...
'A total disgrace': Anger as rail boss becomes CBE

'A total disgrace': Anger as rail boss becomes CBE

Business
Network Rail chief executive Mark Carne has been given a CBE, despite a terrible year for train users across much of the country. The honour, announced late on Friday, comes after the cancellation of 165 trains every day by Northern Rail until the end of July, including services in Manchester, Liverpool, Blackpool and the Lake District.Earlier in the year train users saw the biggest rise in fares since 2013 and a number of train operators, including Southern, South Western and CrossCountry, have been affected by strikes.During his four years at the helm, there has been criticism of the number of operators missing punctuality targets, poor management and delays to modernisation schedules.He is due to retire this summer.News of the honour bestowed on Mr Carne was met with ang...
MPs have 'lost confidence' in TSB boss Pester

MPs have 'lost confidence' in TSB boss Pester

Business
Beleaguered TSB chief executive Paul Pester found himself under further pressure to keep his job after MPs said they had "lost confidence" in his ability to lead the troubled bank. In a letter to TSB chairman Richard Meddings, dated June 7 and signed by Treasury select committee chair Nicky Morgan, MPs said: "...the committee considers that the TSB Board should give serious consideration as to whether Dr Pester's position as chief executive of TSB is sustainable."The committee has lost confidence in his ability to provide a full and frank assessment of the problems at TSB, and to deal with them in the best interests of its customers."It is concerned that, if he continues in his position, this could damage trust not only in TSB, but in the retail banking sector as a whole. I...
Cambridge Analytica boss spars with MPs

Cambridge Analytica boss spars with MPs

Technology
Media playback is unsupported on your device The former chief of scandal-hit Cambridge Analytica has refused to answer questions about the full extent of its use of Facebook-sourced data.Alexander Nix said that he could not do so while an inquiry by the Information Commissioner's office (ICO) was live.He also accused the watchdog of "abusing his parliamentary privilege" by using details revealed at an earlier appearance as the basis to raid his firm's offices.The BBC has contacted the ICO.But it has yet to respond.Cambridge Analytica announced it was closing in May.It became the centre of a data-sharing row after it emerged the firm had acquired data from Global Science Research (GSR), which in turn had collected millions of Facebook users' pe...