Berlin – When the VW board comes together on this Tuesday morning, is likely the agenda probably look different than planned. For the weekend, the Group has further fall into the exhaust affair under pressure: So is not only the former Volkswagen boss Martin Winterkorn already have been known information about the installation of fraud software in VW vehicles much earlier than before – but also his successor Matthias Müller and the current supervisory board chairman Hans Dieter Pötsch.
Winterkorn said to have his colleagues informed early September
In focus the Board round of 8 September 2015 is already on that day to Winterkorn his have informed about the fraud software colleagues, reported the “Bild am Sonntag” ( “BamS”). Also at the table and the former Porsche CEO Mueller and former VW CFO Pötsch should have been sitting, which would be particularly piquant. Because Müller has been very reason called to Winterkorn’s successor because he was allegedly not involved in the exhaust scandal.
Tricky is also the role of Pötsch, who was the CFO at that time responsible for whether and when the Group’s shareholders informed about risks. The Securities Trading Act stipulates that information highly relevant for the share price of a company have, be passed immediately. Should confirm -Recherchen the “BamS”, would be the fodder for investors who complain against VW. They believe that the carmaker had informed too late about the scandal. The VW shares had fallen in September after the outbreak of the exhaust scandal, some shareholders want to be replacing their losses by the Group and sue for damages in the billions.
Can Pötsch continue to play the role of supreme Enlightenment?
On Wednesday VW but had communicated in a statement of defense his conviction, “to have met the capital market law requirements in full.” The Group maintains its position, to have had the relevant information only on 18 September. On this day, the US environmental authorities EPA and CARB had made the scandal public. Two days later, VW admitted having falsified since 2009 in grand style exhaust emissions with a special fraud software, which triggered the biggest crisis of his group’s history from.
Whether the whole board but already less than two weeks prior to announcement the scandal at its meeting on 8 September discussed the subject, to a VW spokesman declined on Sunday not comment on request. The “Bild am Sonntag” cites in its report to a participant in the session, the Recall that in the round no alarm had struck, the consequences could have an admission of illegal software, also Pötsch should have been silent, according to the ” BamS “. Today chairman of the board is considered a close confidant of the VW owner Porsche and Piëch families. The question is whether he can continue to be taking on the role of the supreme Enlightenment in the affair.
VW should have expected early in a threatening billions penalty
Confirms had VW Wednesday that Winterkorn to May, 2014 received information on a built-in “Defeat Device” as the controversial software is in the diesel engines. However, it should “not documented,” whether and to what extent Mr. Winterkorn has taken note of this note then knowledge, “reads the statement. But apparently the document, the then CEO very well read. So he should have then asked his engineers to an assessment of whether the problem is solved, reported the “Bild am Sonntag”, citing an alleged statement Winterkorn during questioning by US lawyers from Jones Day. The firm identified on behalf of Europe’s largest carmaker, how it could come to the scandal surrounding world eleven million manipulated diesel vehicles
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the technician should Winterkorn have assured that the problem is solvable. In December 2014, had then given a recall of the affected US cars. Thus Winterkorn had checked the problem as done. Even its duty if he had not been injured, Winterkorn said to have assured in conversation with the lawyers. However, according to the “Bild am Sonntag” there are documents, which the Group should have expected as early as May 2014, threatening fines in the billions. VW recalls wanting to inform in the second half of April on the results of the investigation.
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