Volkswagen nears settlement with former CEO Winterkorn over diesel scandal


Volkswagen Group said it had reached the broad outlines of a settlement with former CEO Martin Winterkorn over his role in the automaker’s diesel scandal.

“In its meeting yesterday, the supervisory board agreed the essential conditions,” a VW spokesperson said in a statement on Sunday. “The agreements will be concluded in coming days.”

With the settlement, VW is trying to turn the page on the scandal in which it admitted using illegal software to rig diesel engine tests in the United States.

The diesel scandal has cost the automaker more than 32 billion euros ($38.93 billion) in fines, refits and legal costs.

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