reported that it will be receiving $351 million as compensation as part of its
settlement terms with former executives for the dieselgate scandal. The company
will receive $32.89 million from directors' and officers' liability (D&O)
insurances. The scandal saw
Volkswagen admit to using illegal software to rig the U.S. diesel engine tests
in 2015. It will get $32.89 million from directors' and officers' liability
(D&O) insurances and the rest from former Audi boss Rupert Stadler.
announcement, to be approved at the AGM, comes after Berlin prosecutors charged
Volkswagen’s ex-CEO Martin Winterkorn for giving false testimony in front of
the German Parliament. He had earlier stated that he was unaware of
Volkswagen’s diesel emissions cheating.
resigned in September 2015, a week after the scandal came to light. Volkswagen admitted using
illegal software to rig the U.S. diesel engine tests.
Source – ET Auto
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