Home » Business » Former Volkswagen executives and their insurers to pay € 288 million in compensation for diesel diesel scandal

Former Volkswagen executives and their insurers to pay € 288 million in compensation for diesel diesel scandal

Four former executives of the German automotive group Volkswagen and their liability insurers will pay the company 288 million euros in compensation in connection with the so-called diesel scandal scandal, court documents show.

Including former Volkswagen CEO Martin Wintercorn will pay 11.2 million euros, former Audi CEO Rupert Stadler 4.1 million euros, former Porsche board member Wolfgang Hacs 1.5 million euros and former Audi board member Štefans Kniršs – one million euros.

In addition, Volkswagen will also receive € 270 million from insurance companies that insured the liability of four former executives.

The amounts of compensation are determined by mutual agreement.

In September 2015, Volkswagen caused a global scandal, acknowledging that up to 11 million cars in the world are equipped with certain types of diesel engines, which are equipped with software for falsifying harmful emission indicators.

Wintercorn resigned a few days later, but has denied any personal misconduct.

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