Where there was smoke there appears to be fire.
The former Chairman of the Supervisory Board of the company was a longstanding CEO and it is difficult to imagine that he did not know about these practices. As a minimum, he has presided for many years over where these practices took place.
Guilty or not, Ferdinand Piech should resign from the Board of Volkswagen.
Onésimo Alvarez-Moro
See article:
Peter Hartz, former Volkswagen executive and German labour market reformer, on Wednesday admitted personally endorsing €2.5m in illegal payments in a perks-and-prostitutes scandal that damaged Europe's largest carmaker and prompted the former personnel chief’s dramatic fall from grace.
Speaking through his lawyer on the opening day of his trial in Braunschweig, northern Germany, Mr Hartz admitted that between 1995 and 2004 he organised secret bonuses worth €1.9m ($2.5m, £1.2m) for Klaus Volkert, head of the VW works council. He also endorsed €600,000 in payments for luxury holidays, clothing, jewellery and fake consultancy fees for the employee representative and his Brazilian girlfriend.
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