German car parts supplier Continental has parted company with its chief financial officer with immediate effect after becoming aware of “shortcomings” in an internal investigation relating to the 2015 diesel emissions scandal.
Wolfgang Schäfer, who had been in his role since 2010 and was also responsible for the group’s compliance, law and intellectual property division, agreed with the Hanover-based company’s supervisory board on a “mutual termination” following an extraordinary meeting on Wednesday.
The company said the move was linked to an investigation by the Hanover public prosecutor’s office, which is probing whether Continental employees played any role in installing so-called defeat devices in Volkswagen’s 1.6 litre diesel engines. These were equipped with Continental-made control units.