VW Appoints US Law Firm To Run Internal Investigation, Says Resolution Could Take Months

Following a long meeting on September 30, VW’s supervisory board made the decision to hire US law firm Jones Day to lead an external investigation into the manipulation of diesel emissions tests.

“This complex and comprehensive investigation will cover all the current relevant matters. The Supervisory Board will ensure that the law firm can carry out its investigation independently. Jones Day will submit regular reports to the Supervisory Board on progress with the investigation,” the automaker said in a release.

The investigation will be carried out under the guidance of the Supervisory Board, which has also appointed members of the committee that will closely follow and monitor further investigations:

“The committee is to be chaired by Berthold Huber, the acting Chairman of the Supervisory Board, and will include Volkswagen Supervisory Board Members Babette Fröhlich, Olaf Lies, Oliver Porsche and Bernd Osterloh. The committee will regularly report to the Supervisory Board. In addition to Jones Day, the committee will have the power to call upon additional external consultants and experts at any time,”

However, don’t expect to read about the results of the external investigation too soon. “The Executive Committee came to the conclusion that the completion of investigations will take at least several months,” the statement adds.

The automaker also announced that the Board of Management will inform the public in regard to solutions found for the problems next week.

During the meeting, the Executive Committee also decided that Hans-Dieter Pötsch will become Member of the Supervisory Board, which will later elect him as VW Group Chairman. Pötsch, who is currently VW Group CFO, will be succeeded by Frank Witter, the current Chairman of the Board of Management of Volkswagen Financial Services AG.

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