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U.S. Overseer May Triple Staff to Monitor VW Compliance
Larry Thompson, the man appointed by a U.S. federal court to monitor Volkswagen AG’s regulatory compliance efforts, tells reporters the size of the task may prompt him to triple his staff to 60.
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Larry Thompson, the man appointed by a U.S. federal court to monitor Volkswagen AG’s regulatory compliance efforts, tells reporters the size of the task may prompt him to triple his staff to 60.
VW agreed to the outside monitoring as a condition for its $43 billion settlement in January of civil and criminal claims it used illegal software to manipulate diesel emission tests. Thompson’s mission is to determine whether the carmaker’s internal systems will be robust enough to detect and prevent any such cheating in the future.
Thompson says he and his team will track the activities of all 12 of the VW Group’s automotive brands for three years by reviewing documents and interviewing employees. His top assistant is Jonny Frank from StoneTurn Group LLP, a Boston-based forensic accounting firm.
Thompson is a former U.S. deputy attorney, who currently is a professor of corporate and business law at the University of Georgia.
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