VW’s top committee to meet again next week to discuss the emissions scandal image

Volkswagen’s top committee will meet next Wednesday for a third time in three weeks, to talk about the emissions scandal effects, according to sources.

These meetings are increasingly frequent as the annual shareholders’ reunion is coming fast, namely in April, and it is likely to be a very tensed one. Volkswagen’s top committee is also looking at how to account for the emissions scandal in its 2015 results, due to be published in March, people familiar with the matter said. “In this special situation it would not be enough for the executive committee to only meet ahead of a supervisory board meeting, or every six to eight weeks,” the first person said. After more than four months since the scandal broke, there are still more questions than answers on this subject. Moreover, the automaker does not have a proper plan for fixing the US affected cars, leaving in the dark around 600,000 customers, and there are hundreds of lawsuits looming. Therefore, there are plenty of subjects to be tackled by the executive committee of the company’s supervisory board on their Wednesday meeting, people said.

Even if the technical solution for mending the 8.5 million cars in Europe has been approved and the recalls are starting this week, there is still great pressure on Volkswagen to clean up the mess. Besides reviewing the state of investigations and preparing for the annual shareholders’ meeting, the supervisory board’s agenda also mentions the reexamination of the 2016 spending plans drawn up last November, people said.

Via Reuters