The Hanover public prosecutor’s office is investigating the former Conti boss.
(Photo: imago / IPON)
Dusseldorf The automotive supplier Continental and its top management are apparently more deeply involved in the diesel scandal than previously thought: According to information from the Handelsblatt, the Hanover public prosecutor is also investigating the former CEO Karl-Thomas Neumann.
After ex-CEO Elmar Degenhart, ex-Powertrain CEO José Avila and the recently resigned CFO Wolfgang Schäfer, Neumann is the fourth board member who has come into the focus of the investigators. Investors reacted sensitively to the investigation news from last week, the Continental stock exchange price fell by almost five percent as a result.
The investigation revolves around the 1.6-liter EA189 diesel engine developed by Volkswagen, for which Continental, among others, had supplied the engine management system. In 2015 the manipulations became public. Public prosecutors launched investigations against the car manufacturer, but also against suppliers such as Bosch and Continental.
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