Volkswagen AG Chief Executive Officer Matthias Mueller offered little more than an apology as the German carmaker sought to appease disgruntled investors for the damages caused by the diesel-emissions scandal.
While Volkswagen vowed to shore up internal processes to prevent a repeat of the cheating, it offered little new insight into the origins of the crisis. The company also stopped short of committing to cut management pay, with Chairman Hans Dieter Poetsch promising merely to “review” remuneration policies.
