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VW Threatens “Measures” Over Ex-Chairman Piech’s Diesel Cheating Claims
Volkswagen AG says it may take unspecified punitive action against former Chairman Ferdinand Piech for suggesting the company’s supervisory board failed to act after he alerted them to the company’s diesel emission cheating.
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Volkswagen AG says it may take unspecified punitive action against former Chairman Ferdinand Piech for suggesting the company’s supervisory board failed to act after he alerted them to the company’s diesel emission cheating.
Piech says he learned of the issue from an Israeli security in early 2015, according to German media reports. The reports say Piech claims he told the board, including then-CEO Martin Winterkorn, about the cheating in March 2015—six months before the scandal was revealed by U.S. regulators.
The reports say Piech insists he was assured by Winterkorn that the matter was under control.
But VW says the allegations, which Piech first made nearly a year ago, have been dismissed as “implausible” by the law firm Jones Day. VW hired the firm to independently investigate the cheating and determine who was responsible.
VW says members of the supervisory board’s executive committee have “unequivocally and emphatically rejected all assertions” made by Piech as untrue.
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