DIESELGATE: FORMER VW BOSS WILL PAY 10 MILLION EUROS IN COMPENSATION, ACCORDING TO BUSINESS INSIDER
FRANKFURT (Reuters) – Martin Winterkorn, the former chairman of the Volkswagen board, has agreed to pay the automaker around 10 million euros in damages in connection with the “dieselgate” scandal, Business Insider writes on Monday.
Volkswagen announced in March that it would seek damages from Martin Winterkorn in connection with this scandal, which led to the most serious crisis in the history of the German group.
According to Business Insider, an agreement could be reached this week between VW, the former president and other former officials of the group.
Volkswagen’s supervisory board is due to discuss the deal over the weekend, two sources familiar with the matter told Reuters.
An annual general meeting of shareholders
in July will then have to approve it.
Volkswagen declined to comment. A spokesperson for the former president was not immediately reachable.
Volkswagen admitted in 2015 to having used illegal software to tamper with diesel engine tests in the United States. This scandal cost more than 32 billion euros in fines, overhaul of vehicles and legal costs.
Martin Winterkorn resigned on September 23, 2015, a week after the scandal broke.
(Jan Schwartz, written by Tom Sims, French version Jean-Michel Bélot)