Former Volkswagen president pays $13 million to company for diesel scandal
In a statement, the company stated that Wintercoln “broke the duty of care” as CEO, based on extensive investigation by a law firm commissioned by the company
Volkswagen in compensation for what former CEO Martin Wintercoln called the company failed to quickly uncover the truth about the fraudulent diesel engine scandal on Wednesday about emission tests that said they agreed to pay $13.6 million.
German automakers also said they would receive $329 million from liability insurance for damages caused by the actions of directors and officers, reports the Illinois News Today.
In a statement, the company stated that Wintercoln "broke the duty of care" as CEO, based on extensive investigation by a law firm commissioned by the company.
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The US Environmental Protection Agency has arrested Volkswagen using software that turns off air pollution control during normal driving after the car has passed emissions testing. Wintercoln, who denied cheating, resigned days after the EPA's breach notice on September 18, 2015. Volkswagen apologized and paid more than € 31 billion for fines, recall costs and compensation for car owners.
US environmental regulators were warned of emissions issues in May 2014 by a study of alternative fuels, engines, and emission centers at West Virginia University. However, Volkswagen continued to argue that the increase in emissions was due to technical issues rather than illegal software.
As a result of the investigation, Wintercoln said that the 2.0-liter diesel engine sold in the United States from 2009 to 2015 after 27 July, 2015, "comprehensively and quickly the situation behind the use of illegal software functions. It turned out that it didn't "obviously".
The company also said Wintercoln did not guarantee that the company would answer questions from US regulators "in good faith, completely and without delay."
The settlement has also been reached with other former VW executives. Under the agreement, Rupert Stadler, former head of Audi's luxury car division, will pay €4.1 million, former Audi executive Stephen Knilsch will pay €1 million, and former Porsche executive Wolfgang Huts will pay €1.5 million. Become. Porsche is a member of the Volkswagen Group.
