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Audi CEO refutes ouster reports

Audi AG CEO Rupert Stadler refuted media reports suggesting he will be ousted, reaffirming he has the support of Audi's parent company Volkswagen AG, Reuters reported, citing Stadler's statement to Germany's Handelsblatt daily.

German tabloid Bild reported earlier that the automaker's CEO, who took office in 2007, will step aside in April due to his handling of the company's diesel emissions scandal. The publication said Stadler would be given a new role as head of finance for Volkswagen Group.

Volkswagen in 2015 admitted wrongdoing in diesel-emission tests in the U.S., hiding the noxious gasses emissions by some of its models.

Matthias Mueller, the CEO of Volkswagen and chairman of Audi, also urged employees to ignore media reports about Stadler's possible removal.