Supervisory Board Backs VW Management

Volkswagen is backing its management board in its handling of the TDI scandal and the plan to move forward, in a statement.

The statement comes ahead of VW’s Annual General Meeting, where shareholders will be able to vote to support (or not) the actions of the board of management.

“The Supervisory Board is expressing its confidence in the entire Board of Management’s ability to successfully push ahead with the extensive realignment of the Group,” the Supervisory Board wrote in a statement.

This particular board of management helmed VW as it navigated through one of its most difficult scandals and the Supervisory Board’s statement suggests that it is satisfied with how it was handled.

The decision comes as a result of an “in-depth legal appraisal” from law firm Geiss Lutz. It based its assessment on findings from Jones Day, which conducted VW’s internal investigation into the dieselgate scandal.

Volkswagen’s AGM is set for May 10.

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