German prosecutors in Munich have said there is not enough evidence to warrant launching criminal proceeding against former Siemens CEO and supervisory board director Heinrich von Pierer.
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Hitzfeld Set to Coach Switzerland ... other former board members will face misdemeanor charges for alleged negligence. The current superivisory board is not affected by Friday's decision. The group has acknowledged the existence of special funds worth 1.3 billion euros which were used to illicitly obtain foreign contracts. The electronics giant agreed last October to pay a fine of 201 million euros to put an end to some German legal proceedings and has also incurred compliance costs of around 1.8 billion euros.
(Deutsche Welle)
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