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Emissions scandal: VW faces investor questions

2016-06-22 13:13

UNDER FIRE: Matthias Mueller, Volkswagen CEO, speaks at Volkswagen AG's annual general meeting in Hannover, Germany. Image: Sebastian Gollnow/ DPA via AP

Germany - Volkswagen executives face questions from minority investors over the company's scandal involving cars rigged to cheat on diesel emissions tests.

Volkswagen's board of directors has proposed that the assembled shareholders in Hannover, Germany, vote to approve the work of the management team.

That's a formality, but sometimes presents a chance for disgruntled shareholders to voice their displeasure.

Ongoing scandal

Porsche SE, the holding company that controls a majority of voting rights, has said it will back the proposal.

Board Chairman Hans Dieter Poetsch told shareholders on Wednesday that approving management's work does not mean there will be no consequences or damage claims for any executives found responsible for the rigged cars.

The scandal became known on Sept 18 2015 when the US Environmental Protection Agency issued a notice of violation.


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