Volkswagen: no market manipulation

Volkswagen is backing two chairman accused of market manipulation.

The Brunswick public prosecutor’s office announced that it had brought an indictment against the former chairman of the board of management of Volkswagen AG, Prof. Martin Winterkorn, as well as against the chairman of the supervisory board, Hans Dieter Pötsch, and the chairman of the board of management, Dr. Herbert Diess.

The supervisory board agreed at an emergency general meeting that both would remain in office.

After examining the bill of indictment of the Brunswick public prosecutor’s office, it said, ‘The supervisory board shares the assessment that the Executive Committee expressed yesterday. Based on its own extensive and independent investigations since autumn 2015, the supervisory board still can, also from today’s perspective, not see that the capital market was deliberately not informed.

‘This has also not changed after the review of the indictment bill. For this reason, Volkswagen AG will continue the successful cooperation with the chairman of the supervisory board and the chairman of the board of management.’