BlackRock criticizes VW's leadership

Thursday, 01. October 2020 19:56

BlackRock Inc. stated on Thursday that the Volkswagen AG has failed to appoint enough directors that would provide independent oversight of the automaker's management.

The investment management corporation, which is the fourth-largest VW stakeholder, asserted that it was the lack of independent oversight that led to the Dieselgate scandal in 2015 that cost the company €32 billion.

"The current level of independence on VW's Supervisory Board does not meet [BlackRock's] expectations for controlled companies," the American corporation said.

Related Links: Volkswagen AGBlackRock Inc.
Breaking the News / MD