German engineering giant Siemens said today it will pursue former directors for damages, in an unprecedented move linked to a corruption scandal which broke nearly two years ago.
Among the 11 former executives targeted are former Siemens bosses Heinrich von Pierer and Klaus Kleinfeld.
Siemens 'is asserting claims for damages against former members of the former corporate executive committee of the managing board of Siemens AG,' the statement said.
The company 'bases its claims on breaches of their organisational and supervisory duties in view of the accusations of illegal business practices and extensive bribery' that marked operations from 2003 to 2006. Those actions had since resulted in financial burdens to the company, Siemens said.
The company did not specify the amount of damages it would seek.
German justice officials are still investigating the corporate scandal, which erupted in late 2006 and has since shaken Siemens to its core. The sprawling industrial has acknowledged that €1.3 billion was funneled into various funds used to obtain foreign contracts, and that the practice was widespread across its numerous divisions.
The 160-year-old group manufactures products from light bulbs and medical equipment to railway trains and power stations, and employs around 400,000 people worldwide.
It agreed in October to pay a fine of €201m to put an end to some German legal proceedings, but is also the subject of a potentially damaging probe by the US Securities and Exchange Commission.
In addition to von Pierer and Kleinfeld, Siemens identified the other executives as Johannes Feldmayer, Thomas Ganswindt, Edward Krubasik, Rudi Lamprecht, Heinz-Joachim Neubuerger, Juergen Radomski, Uriel Sharef and Klaus Wucherer.
Guenter Wilhelm, a former corporate executive committee member would face other claims for damages, along with Feldmayer, the company said.
