Poetsch

The company added that Diess and Poetsch, who in 2015 held positions as head of VW brand and finance chief, respectively, did not violate any laws or their fiduciary duties towards VW.

The court in Braunschweig was hearing charges of stock market manipulation against CEO Herbert Diess, as well as non-executive Chairman Hans Dieter Poetsch.

The group’s current CEO Herbert Diess and supervisory board chair Hans Dieter Poetsch faced similar accusations of failing to inform shareholders in a timely manner of the pollution scam.

Hans Dieter Poetsch is now Volkswagen’s chairman.