Ex-CEO pays Volkswagen 102 billion rupees for emissions scandal
Martin Winterkorn, ex-CEO of Volkswagen, will pay the company $ 14 million (102.5 billion rupees) in compensation for the emissions scandal.
Martin Winterkorn, ex-CEO of Volkswagen, has agreed to pay the company $ 14 million (Rs. 102.5 billion) in compensation for its role in the 2015 Dieselgate scandal.
According to reports, an investigation found that the former CEO had failed to respond properly to signs that the company was using cheat devices in its diesel emissions tests. Volkswagen also stated that Winterkorn had failed to ensure that the US authorities’ questions about the 2015 emissions scandal were truthfully answered.
The company recently published a report according to which Winterkorn was not involved in the development of the “cheat device”, but had “negligently violated his duty of care” by not clearing up the fact that it was being used in a timely and comprehensive manner.
Volkswagen has announced that it will demand damages from Martin Winterkorn and Rupert Stadler (former Audi boss). Stadler is accused of not having investigated the use of the “cheat device” in Audi cars. The former Audi boss has agreed to pay compensation of 5 million US dollars (36.6 billion rupees).
Martin Winterkorn was Chairman of the Board of Management of Volkswagen from 2007 to 2015. He resigned a week after the scandal became known. The diesel emissions scandal has cost Volkswagen over $ 39 billion in fines, compensations and settlements over the past 6 years.