Diesel Investigation at Continental Includes Former Top Managers
November 18 2021 - 7:47AM
Dow Jones News
By Markus Klausen
Public prosecutors in Germany are investigating former
Continental AG Chief Executive Officer Elmar Degenhart as well as
the company's finance chief Wolfgang Schaefer who was removed from
his post abruptly this week amid probes related to the diesel
scandal.
A spokesman for the public prosecutor's office in the city of
Hanover said Thursday that the widened investigation also includes
the probe of a former board member of Continental's spun-off
powertrain division. The investigations concern allegations of
aiding fraud, embezzlement and breach of supervisory duties. The
evaluation of documents will take months, he said.
Offices at the German car-parts supplier have been searched
several times in connection with the diesel scandal at auto maker
Volkswagen AG. On Wednesday, a law firm that was commissioned by
Continental was also searched.
Continental declined to comment in light of continuing
proceedings.
Write to Markus Klausen at markus.klausen@wsj.com
(END) Dow Jones Newswires
November 18, 2021 07:32 ET (12:32 GMT)
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