Transaction Roundup: Daimler Trades Legal Chief To Volkswagen For Player to Be Named Later
Volkswagen announced Friday that Christine Hohmann-Dennhardt would join the embattled automaker from a similar post at Daimler after receiving approval from that automaker’s board of directors.
The Daimler board member and former judge will join Volkswagen on its Board for Integrity and Legal Affairs to help the automaker clean up its severely tarnished image after it admitted it had cheated emissions tests on more than 11 million cars worldwide. From Daimler:
In the interests of the Good Corporate Governance of the German automotive industry, the Chairman of the Supervisory Board of Daimler AG has agreed to this request after consultation with the Presidential Committee of the Supervisory Board, after Compliance is anchored firmly at Daimler and its corporate culture.
(Emphasis mine on the sick, corporate burn.)
Hohmann-Dennhardt was appointed to the Daimler board in 2011 after sitting on the First Constitutional Court of Germany since 1999, according to Bloomberg.
At Daimler she was the first woman appointed to its board of management after the automaker expanded the board from six to seven members for her appointment. Hohmann-Dennhardt oversaw compliance and ethics for Daimler.
According to the report, Hohmann-Dennhardt earned a record of strict order and “toughness” during her tenure at Daimler.
Hohmann-Dennhardt will begin at the new position Jan. 1.
More by Aaron Cole
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"...will join Volkswagen on its Board for Integrity and Legal Affairs." Just how long has this board existed? Just since the scandal broke? And, integrity and legal affairs are rarely mentioned in the same sentence.
Das falbeil her name goes to the labor board on all the terminated employees ppwk.
Fal-L-beil. Her names a rented rubber stamp. So VW brass don't get their names tainted with all the govt watchdogs, the media and labor board. Her signature will be on all the emissions stink.
Since Volkswagen is the world largest car maker this "scandal" will make little difference. Unlike the GM ignition scandal no lives have been lost. In a years time this all will have been forgotton