Volkswagen CEO, chairman will stay in office despite charges: supervisory board

Volkswagen’s (VOWG_p.DE) chief executive and chairman will stay in office, the company’s supervisory board said in a statement on Wednesday, a day after German prosecutors pressed charges against them for their role in a diesel emissions scandal.

The carmaker’s supervisory board has not found any evidence that CEO Herbert Diess and Chairman Hans Dieter Poetsch were too late in informing capital markets about the risks in connection with the scandal that broke in 2015.

“This is why the successful collaboration with the chairman and the chief executive will be continued,” the board said in a statement.

Prosecutors in the city of Braunschweig on Tuesday indicted Diess, Poetsch and former Volkswagen CEO Martin Winterkorn, saying they failed to inform investors about the diesel scandal in time when it erupted, which could be seen as market manipulation.

Source: News Agencies