VW Shareholders Demand Management And Supervisory Boards Be Held Accountable For Dieselgate

Investment advisory firm Hermes EOS has urged Volkswagen Group shareholders not to clear the automaker's management and supervisory boards from responsibility for actions taken in 2016, citing VW's failure to resolve long-standing corporate governance and transparency issues.

A day before VW's annual shareholder meeting in Hanover, Germany, Hermes called on VW to publish key findings of its investigation into the emissions scandal, criticized the carmaker's efforts to improve corporate culture and demanded an independent review of its supervisory board.

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MDarringer - 5/9/2017 8:52:36 AM

+3 Boost

VW needs a complete management purge to be honest.

TheSteve - 5/9/2017 10:31:35 PM

+2 Boost

MDarringer: Sadly, I agree. Like the old saying goes, “The fish rots from the head.” It'll be impossible to turn the corporate culture and way of behaving around with the "old school" management and executive team still in place.