VW board looks at taking property from ex-CEO

The board overseeing troubled automaker VW is looking into whether it can potentially take property from it’s indicted ex-CEO, based on the outcome of inquiries intothescandal that has rocked the company.

Frankfurter Allgemeine Sonntagszeitung, a German newspaper, says that former VW CEO Martin Winterkorn might have to hand over his property following the car maker’s own investigation into the diesel car controversy that has cost it billions of dollars in settlements and penalties.

It would be the latest repercussion for Winterkorn, who was indicted last week by afederal grand jury, along withfive other former company executives. Thefelony charges include conspiracy, wire fraud and violation of the Clean Air Act for their alleged involvement in a plot to rig diesel cars in the U.S. to pass emission tests and then try to hide those deeds from investigators when they were discovered byindependent tests.

VW has spent more than $20 billion in recall costs, penalties and settlements, and executives at varying levels of the company have been indicted.

More: Ex-Volkswagen CEO indicted in alleged plot to rig diesel cars to pass U.S. emissions tests

More: VW takes nearly $3B extra charge for fixing scandal-tainted U.S. diesel vehicles

More: VW engineer gets 40 months in prison for role in diesel scandal


Volkswagen is seeking to replace Matthias Mueller with the head of its core brand, Herbert Diess, as part of a broader overhaul of its management structure to boost efficiency, two people familiar with the matter said. Newslook


Volkswagen has selected partners to provide battery cells and related technology worth around 20 billion euros for electric-vehicle projects in Europe and China, pushing ahead with a shift to zero-emission cars. Ivor Bennett reports. Video provided by Reuters Newslook

Contributing: Chris Woodyard

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