On Friday, Volkswagen's Supervisory Board condemned the automatic giant's CEO to evoke a chilling Nazi slogan to highlight the importance of increasing profits.
Speaking to employees at a VW event earlier this week, the Herbert Diess group created the line "EBIT macht frei" – a German phrase echoing "Arbeit macht frei," the false promise "Work Makes You Free" that was emblazoned on the top of the wrought iron gates of the Auschwitz concentration camp.
Diess asked to explain that he was trying to make the point that VW's more profitable units had more financial freedom. EBIT is a common abbreviation for finance for earnings before interest and fees.
Diess went to social media this week to apologize for gaffe.
"It was by no means my intention to put this statement in a false context, wrote Diess on LinkedIn on Wednesday." At that time, I simply did not think of this opportunity. "
Nevertheless, it admitted Automatic Executor's company's "special responsibility in the Third Reich." Founded in 1
"Declaration by CEO Herbert Diess is considered inappropriate and difficult to understand in this context," VW's board said on Friday and adds that it "strongly disappears from this, but at the same time he notes Mr. Diess' immediate apology. . "
Diess & # 39; embarrassing flub was not the only bad news that beats the company this week.
Security and Currency Commission accused Volkswagen and its former manager The "massive fraud" director Martin Winterkorn, arguing they made "misleading claims" about the car's environmental compliance while accounting for billions from bond investors.
Reps from Volkswagen did not immediately respond to requests for comment.