Volkswagen AG issued the following statement today on the appointment of Larry D. Thompson as the Independent Compliance Monitor under the terms of its settlements with the United States government.
“Volkswagen welcomes the appointment of Larry D. Thompson to this new position, and we intend to cooperate fully with his important work. We have taken significant steps to strengthen accountability, enhance transparency and build a better company and we look forward to working closely with Mr. Thompson as we press forward with the biggest change process in Volkswagen’s history,” said Ms. Hiltrud Werner, Board Member of Integrity and Legal Affairs at Volkswagen AG.
Mr. Thompson will have a dual role as Independent Compliance Monitor and Independent Compliance Auditor, under the terms of Volkswagen’s plea agreement with the United States Department of Justice (DOJ) and a separate Consent Decree with the DOJ on behalf of the U.S. Environmental Protection Agency, respectively. Mr. Thompson will assess, oversee and monitor the company’s compliance with the terms of its settlements for a period of three years, including measures to further strengthen Volkswagen’s compliance, reporting and monitoring mechanisms and implementation of an enhanced compliance and ethics program. Mr. Thompson will also be tasked with certifying that Volkswagen’s compliance program is able to detect something like the diesel matter and prevent it from happening again.
