VIA optronics Lifts Founder's Suspension as Review Into Internal Controls, Compliance Continues
December 01 2023 - 4:08PM
Dow Jones News
By Sabela Ojea
VIA optronics AG said founder Juergen Eichner is no longer
suspended from the company but noted that he will be taking a paid
extraordinary vacation until the end of the year as part of a
personal initiative.
The Nuremberg, Germany, supplier of interactive display systems
on Friday said its board decided to withdraw Eichner's suspension
amid a continuing review of its internal control and compliance
involving Eichner and other employees.
"It is important for Mr. Eichner to avoid any impression that he
may want to influence the investigation," VIA optronics said.
Last month, the company suspended Eichner after an internal
review that covered 2017 through 2022 found discrepancies in areas
such as expense recording and reimbursement, company credit-card
usage for personal transactions, inadequate documentation of
vehicle usage, and irregularities in vacation days.
The deviations primarily involved Eichner, who had been CEO
since 2005 before being replaced in August, and a limited number of
other employees.
The timing of the internal review process will result in a
further delay of the filing of its 2022 Form 20-F annual report
with the Securities & Exchange Commission, which is expected to
be filed in early 2024.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
December 01, 2023 16:53 ET (21:53 GMT)
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