Former VW boss to pay € 10m in damage to dieselgate – Business Insider
Former Volkswagen chief (VOWG_p.DE) Martin Winterkorn has agreed to pay around € 10m ($ 12m) in damages to the automaker over the diesel emissions scandal, reported Monday Business Insider.
Volkswagen said in March it would seek damages from Winterkorn for the scandal as it tried to draw a line in its biggest crisis in history. Read more
Business Insider, citing a draft contract, reported that an agreement between the automaker, Winterkorn and other former executives could be signed this week.
Volkswagen’s supervisory board is expected to discuss a deal over the weekend, two sources with knowledge of the matter told Reuters. An annual general meeting of shareholders in July should then sign it.
Volkswagen declined to comment. A spokesperson for Winterkorn did not answer the phone when called for comment.
The German company said in March that following a thorough forensic investigation, it concluded that Winterkorn had breached its duty of care. Winterkorn has denied being responsible for the scandal.
In 2015, Volkswagen admitted to using illegal software to test diesel engines in the United States. The scandal cost him more than 32 billion euros in fines, refits and legal costs.
Winterkorn resigned his post as chief executive on September 23, 2015, a week after the scandal broke.
(1 USD = 0.8178 euros)
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