At this year’s Annual General Meeting on May 10, the Supervisory Board of Volkswagen Aktiengesellschaft will be proposing resolutions ratifying the actions of the members of the Board of Management serving in fiscal year 2016. This is on the basis of an in-depth legal appraisal by law firm Gleiss Lutz. The appraisal is based on the comprehensive findings of the investigation by U.S. law firm Jones Day.
In doing so, the Supervisory Board is expressing its confidence in the entire Board of Management’s ability to successfully push ahead with the extensive realignment of the Group. Volkswagen points out that the proposed ratification by the Annual General Meeting does not imply any waiver of possible compensation claims against any individual. In line with its statutory duties, the Supervisory Board has been examining since the diesel crisis became known whether it is obligated to assert compensation claims against individual members of the Board of Management. This examination is ongoing. In addition, the Board of Management and the Supervisory Board recommend that the Annual General Meeting ratify the actions of all members of the Supervisory Board of Volkswagen AG.
The Supervisory Board is also recommending that the Annual General Meeting adopt resolutions on restructuring the remuneration system for the Board of Management as well as a new remuneration system for the Volkswagen Supervisory Board.
