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Volkswagen AG XE:VOW XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.50 -0.81% 184.75 184.60 184.80 192.25 184.45 188.60 48,747 16:45:00

Diesel Investigation at Continental Includes Former Top Managers

18/11/2021 12:47pm

Dow Jones News


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   By ​Markus Klausen 
 

Public prosecutors in Germany are investigating former Continental AG Chief Executive Officer Elmar Degenhart as well as the company's finance chief Wolfgang Schaefer who was removed from his post abruptly this week amid probes related to the diesel scandal.

A spokesman for the public prosecutor's office in the city of Hanover said Thursday that the widened investigation also includes the probe of a former board member of Continental's spun-off powertrain division. The investigations concern allegations of aiding fraud, embezzlement and breach of supervisory duties. The evaluation of documents will take months, he said.

Offices at the German car-parts supplier have been searched several times in connection with the diesel scandal at auto maker Volkswagen AG. On Wednesday, a law firm that was commissioned by Continental was also searched.

Continental declined to comment in light of continuing proceedings.

 

Write to ​Markus Klausen at markus.klausen@wsj.com

 

(END) Dow Jones Newswires

November 18, 2021 07:32 ET (12:32 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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