Ex-VW Execs To Pay €17.8M Over Roles In Emissions Scandal
Law360 (June 9, 2021, 4:04 PM EDT) -- Volkswagen AG on Wednesday announced that its supervisory board has reached an agreement with four former executives for VW and Audi to pay €17.8 million ($21.7 million), over their involvement with the diesel emissions scandal that has resulted in litigation and indictments across the auto industry.
The auto group, which includes Audi and Porsche among its brands, said that Martin Winterkorn, its former chairman of the board of management, and Rupert Stadler, former chairman of Audi's board of management, will put up the bulk of that payment, agreeing to pay €11.2 million and €4.1 million, respectively.
The company must still approve...
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