The shareholders of Europe’s largest carmaker, Volkswagen, on Thursday approved an agreement to settle claims against four former directors of the German car group, including former CEO Martin Winterkorn, linked to the emissions scandal, Reuters reports.
The agreement, which was announced last month and through which Volkswagen will receive 288 million euros in compensation, required the approval of shareholders.
99.9% of investors agreed with the proposal at the group’s annual general meeting.
Volkswagen admitted in 2015 that it had deceived tests for polluting emissions of diesel engines in the US, causing the biggest business crisis in its history.
The agreement marks a major milestone in the carmaker’s efforts to leave behind this scandal, which has so far cost the group more than 32 billion euros in vehicle repairs, fines and legal costs.
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