HANOVER, Germany—Continental A.G. has confirmed the dismissal of sales management team members at its China tire business due to allegations of financial corruption.
“There has been a compliance violation, which is an internal occasion and in the context of its internal investigations, Continental has responded quickly and dismissed several employees including management staff,” Alexander Bahlmann said in an email.
Bahlmann added that there is a clearly defined concept of a zero tolerance policy with appropriate rules and that in such cases these rules are strictly and systematically imposed.
“Based on our knowledge, as of today, the financial effect of this action can be classified as rather manageable,” he said.