The CEO of Volkswagen (VW), Der Spiegel, knew about the emissions-cheating software in cars two months before the scandal was exposed by regulators, according to German magazine Herbert Diess. The magazine's story, which draws on recently unsealed documents, raises questions about whether the company informed investors quickly enough about the scope of the scandal, which ultimately cost VW over $27bn in fines and penalties. Senior management at VW is being investigated by prosecutors in Braunschweig in order to ascertain whether disclosure rules were breached. Diess, who became CEO in April, was VW’s brand chief during the scandal.
The CEO of Volkswagen (VW), Herbert Diess, knew about the emissions-cheating software in cars two months before the scandal was exposed by regulators, according to German magazine Der Spiegel. The magazine's story, which draws on recently unsealed documents, raises questions about whether the company informed investors quickly enough about the scope of the scandal, which ultimately cost VW over $27bn in fines and penalties. Senior management at VW is being investigated by prosecutors in Braunschweig in order to ascertain whether disclosure rules were breached. Diess, who became CEO in April, was VW’s brand chief during the scandal.