Volkswagen To Assert Damage Claims Against Former CEO, Former Audi CEO
March 26 2021 - 8:04AM
Dow Jones News
By Kim Richters
Volkswagen AG's supervisory board decided to assert claims for
damages against former Chief Executive Officer Martin Winterkorn
and former Audi CEO Rupert Stadler as part of its investigation
into the diesel scandal.
The German car maker said Friday that claims would be on account
of breaches of the duty of care under stock corporation law.
The investigation had shown that Mr. Winterkorn failed "to
comprehensively and promptly clarify the circumstances behind the
use of unlawful software functions" in some of the company's
diesel-engine cars in North America between 2009 and 2015, as well
as to ensure that U.S. authorities' questions were addressed
appropriately.
Mr. Stadler had failed to ensure that certain diesel engines
installed in Volkswagen, Audi and Porsche vehicles in the EU would
be investigated for unlawful software functions from September
2016.
Volkswagen said there were no breaches of duty identified by
other members of its management board but the supervisory boards of
its Audi and Porsche brands also saw a breach in duty of care on
their respective former management boards. It has now ended its
investigation into the causes of the diesel crisis.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
March 26, 2021 07:49 ET (11:49 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Volkswagen (TG:VOW3)
Historical Stock Chart
From Mar 2024 to Apr 2024
Volkswagen (TG:VOW3)
Historical Stock Chart
From Apr 2023 to Apr 2024