Siemens is on the point of concluding an agreement with three former members of the Managing Board with respect to the claim for damages in connection with the investigation of the corruption affairs. Siemens and the former members of the Managing Board are concerned to avoid years of conflict over the claims and to regulate the matter to mutual satisfaction.
Klaus Wucherer, Rudi Lamprecht und Edward G. Krubasik are prepared to reach a settlement with Siemens in November 2009 and – in addition to payments from D&O-Insurance and independently of their volume – to each pay the company EUR500,000. This agreement must be approved by the Supervisory Board and the Annual Shareholders’ Meeting.
The company has also been informed by the three former members of the Managing Board that the current legal proceedings against them instigated by the Munich public prosecutor for breaches of their supervisory duties in connection with the corruption issues have already been terminated.
Siemens is also holding talks with the other former members of the Managing Board and expects further agreements to follow in the near future.