Former Volkswagen boss pays $ 13 million to company for diesel scandal

Frankfurt, Germany-Former Volkswagen CEO Martin Winterkorn said the company was unable to quickly uncover the truth about the diesel engine scandal that was sought to fool emissions inspections in 2015. The company, which has agreed to pay Euro ($ 13.6 million), said Wednesday.

Wintercoln’s payment is his share of a total of € 288 million in the settlement between him and Volkswagen by three other former managers.

Volkswagen said it would receive € 270 million ($ 329 million) from liability insurance for losses due to the actions of its directors and officers.

Rupert Stadler, former head of Audi’s luxury car division, will pay € 4.1 million. Former Audi executive Stephen Knilsch € 1 million. And Wolfgang Huts, a former Porsche executive, costs 1.5 million euros. Porsche is a member of the Volkswagen Group.

The dpa news agency reported that more than 30 insurance companies also participated in the negotiations. The settlement must be approved at the company’s annual shareholders meeting on 22 July.

In a statement, the company stated that Wintercoln “broke the duty of care” as CEO, based on extensive investigation by a law firm commissioned by the company.

The US Environmental Protection Agency has arrested Volkswagen using software that turns off air pollution control during normal driving after the car has passed emissions testing. Wintercoln, who denied cheating, resigned days after the EPA’s breach notice on September 18, 2015. Volkswagen apologized and paid more than € 31 billion for fines, recall costs and compensation for car owners.

US environmental regulators were warned of emissions issues in May 2014 by a study of alternative fuels, engines, and emission centers at West Virginia University. However, Volkswagen continued to argue that the increase in emissions was due to technical issues rather than illegal software.

As a result of the investigation, Wintercoln said that the 2.0-liter diesel engine sold in the United States from 2009 to 2015 after July 27, 2015, “comprehensively and quickly the situation behind the use of illegal software functions It turned out that it didn’t “obviously”.

The company also said Wintercoln could not guarantee that the company would answer questions from US regulators “in good faith, completely and without delay.”

Separately, the Berlin prosecution said Wednesday that it had charged Winterkorn with making false statements to a parliamentary commission investigating the emissions issue. Their statement erroneously stated that Winterkorn learned about illegal software in September 2015, not May 2015.

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