Daimler AG will be releasing its Member of the Board of Management for Integrity and Legal Affairs, Dr. Christine Hohmann-Dennhardt from her contract with Daimler AG to assist in the restructuring of the embattled Volkswagen AG.
Following the diesel engine emissions scandal, Volkswagen AG has approached Daimler AG, which had the experience of recovering from a damaging corruption scandal in 2010, to assist in its recovery.
Hans Dieter Pötsch, Chairman of the Supervisory Board at Volkswagen AG was said to have approached the Chairman of the Supervisory Board of Daimler AG, Dr. Manfred Bischoff to release its legal affairs and compliance chief Dr. Christine Hohmann-Dennhardt to Volkswagen.
Daimler announced on Friday that it has released Dr. Christine from her contract, which was supposed to run until February 2017, allowing her to move to Volkswagen AG.
Daimler AG’s Manfred Bischoff said, “In the interests of the Good Corporate Governance of the German automotive industry, the Chairman of the Supervisory Board of Daimler AG has agreed to this request after consultation with the Presidential Committee of the Supervisory Board, after Compliance is anchored firmly at Daimler and its corporate culture.
“We thank Christine Hohmann-Dennhardt for the excellent work that she has performed for Daimler AG and wish her the best possible success in her new position.”
"We are delighted that Dr. Hohmann-Dennhardt has agreed to take on this responsible task and that we can build on her outstanding competence and experience", said the Chairman of the Supervisory Board of Volkswagen AG, Hans Dieter Pötsch.
"At the same time we would like to thank Daimler AG for agreeing to our request to the early termination of Dr. Hohmann-Dennhardt's contract," he added.
In 2010, Daimler AG was fined USD 185 million for bribery charges. The company was found guilty of paying USD 56 million in bribes in at least 22 countries.