FRANKFURT – Volkswagen executives face questions from minority investors over the company’s scandal involving cars rigged to cheat on diesel emissions tests.
Volkswagen’s board of directors has proposed that the assembled shareholders in Hannover, Germany, vote to approve the work of the management team. That’s a formality, but sometimes presents a chance for disgruntled shareholders to voice their displeasure.
Porsche SE, the holding company that controls a majority of voting rights, has said it will back the proposal.
Board Chairman Hans Dieter Poetsch told shareholders Wednesday that approving management’s work does not mean there will be no consequences or damage claims for any executives found responsible for the rigged cars. The scandal became known on Sept. 18, 2015, when the U.S. Environmental Protection Agency issued a notice of violation.