Volkswagen Supervisory Board: Board of Management and Supervisory Board Chairmen to remain in office

The Chairman of the Board of Management of Volkswagen AG, Dr. Herbert Diess, and the Chairman of the Supervisory Board, Hans Dieter Pötsch, are to remain in office. This was unilaterally decided today by the company’s Supervisory Board in an extraordinary meeting.

After examining the bill of indictment of the Brunswick public prosecutor’s office, the Supervisory Board declared on Wednesday: “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.”

The Brunswick public prosecutor’s office had 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, for the charge of alleged market manipulation.