Vw taps Frank Fabian to head its governance risk and compliance department

Article by Christian A., on February 25, 2011

In a written statement, Volkswagen AG has chosen labor law specialist Frank Fabian to head a newly created governance risk and compliance department. Fabian is expected to play an independent management role that will strengthen compliance with the company's code of conduct.

The 44-year-old Fabian, who joined VW in 2001 as head of the labor law department, will report directly to VW CEO Martin Winterkorn.

Fabian, who worked in private law practice before joining VW, was involved in developing company policy on compliance with corporate governance. He also helped set up the compliance department.

Fabian will be in charge of policing the company's code of conduct a few years after VW was shaken by accusations of bribery and sex parties involving executives.

In 2009, Klaus Volkert, the powerful former head of VW's works council and a member of the supervisory board, was jailed for 33 months for breach of trust and breaches of German labor law.

Volkert’s trial heard allegations of sex parties with prostitutes and bribe taking. Commenting on Fabian’s appointment, Winterkorn said that there can be no compromises as far as complying with the company code of conduct is concerned.

He added that VW is adopting an innovative approach by bringing together governance, risk and compliance in a single department.

Topics: vw

If you liked the article, share on:

Comments

Recommended

The BMW 7 Series is already highly sought after but nonetheless, the German marque is giving it a more exclusive variant for the Russian market, and they are calling it...
by - October 20, 2017
Several automakers including Porsche, Volkswagen, Smart and even Land Rover have all been victimized by cheap Chinese copycats. And if you haven’t seen it yet, the most recent one would...
by - October 20, 2017
The Mercedes-Benz G-Class has been around for quite some time now but to bid it farewell, the company has launched the Mercedes-AMG G65 Final Edition. Mercedes will only build a...
by - October 20, 2017
Have you ever wondered what you can you buy with $9,365 in your pocket? Well, you have quite a lot of options. In fact, you can even purchase a used...
by - October 20, 2017
The Audi A7 Sportback, whether you would like to call it a sportback or a four-door coupe, has always been a beautiful car. And this week, the 2019 model year...
by - October 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries