VIA optronics AG, a supplier of interactive display systems based in Nuremberg, Germany, has announced that its founder, Juergen Eichner, is no longer suspended from the company. However, Eichner will be taking a paid extraordinary vacation until the end of the year as part of a personal initiative.
The decision to withdraw Eichner’s suspension was made by the company’s board during an ongoing review of its internal control and compliance, which involves Eichner and several other employees. VIA optronics emphasized the importance of avoiding any perception that Eichner may want to influence the investigation.
Last month, Eichner was suspended following an internal review that examined the period from 2017 to 2022. The review uncovered discrepancies in various areas, including expense recording and reimbursement, personal transactions made using company credit cards, inadequate documentation of vehicle usage, and irregularities in vacation days.
These deviations were primarily associated with Eichner, who served as CEO from 2005 until August when he was replaced. A limited number of other employees were also implicated.
Due to the ongoing internal review process, the filing of VIA optronics’ 2022 Form 20-F annual report with the Securities & Exchange Commission will experience further delays. The company now anticipates filing the report in early 2024.