Faurecia chief executive resigns over car parts corruption probe

0 Comments | AFP, August, 2006

PARIS (AFP) — The chief executive of French car parts maker Faurecia, Pierre Levi, has resigned following an investigation in Germany of his role in an alleged bribery scandal, the company said.

A statement from Faurecia said Levi had resigned "as a consequence of the current judicial inquiry in Germany and in the best interests of the group."

German prosecutors confirmed last week that an inquiry had begun into kickbacks paid by Faurecia to executives at several German auto manufacturers including Volkswagen, Audi and BMW.

Frankfurt-based prosecutor Sibylle Gottwald, who is leading the probe, has said that Levi was aware of the allegations since 2001 but he denied participating directly in the alleged wrongdoing.

Faurecia, a subsidiary of French car...