Volkswagen's Board Confirms New Chairman, Wishes Him Good Luck on Difficult First Day

Aaron Cole
by Aaron Cole

Volkswagen’s supervisory board confirmed its appointment of Hans Dieter Pötsch to its top seat during a scandal rocking the 78-year-old automaker, the company announced Wednesday.

Pötsch said he would continue the investigation as chairman:

I will do my utmost to uncover the full truth of what happened. I am firmly resolved to make my contribution so that Volkswagen can win back the trust of customers, the public, investors and business partners. And I believe my central task is to play my part in guiding Volkswagen towards a successful future.

Pötsch said Volkswagen’s investigation would take “some time” to clear up.

“Nobody is served by speculation or vague, preliminary progress reports,” Poetsch said, according to Reuters (via Automotive News).

Pötsch was Volkswagen’s chief financial officer before the board tabbed him to succeed interim chairman Berthold Huber. Pötsch was VW’s CFO for more than a decade, after leaving German engineering firm Durr AG, according to the automaker. Pötsch started his automotive career at BMW in 1979, working up to head of group controlling before he left in 1987.

Pötsch is seen as a neutral chairman with knowledge of the automaker’s day-to-day activities.

Aaron Cole
Aaron Cole

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  • SCE to AUX SCE to AUX on Oct 07, 2015

    "This is the time on Sprockets when we dance!"

    • Patrick McCall Patrick McCall on Oct 07, 2015

      I just tried to find that clip on YouTube a week or two ago, to no avail. :-(

  • Von Von on Oct 07, 2015

    Isn't this more or less what GM did with their (then) new CEO? Here's a promotion for you, oh and part of the job is cleaning up the mess we just made. GOOD LUCK! Actually, pretty standard in the corporate world these days.

  • Speedlaw Speedlaw on Oct 07, 2015

    So far, I have received a post card from a class action lawyer, and a letter from the President of VW USA apoligizing for a breach of trust.

    • Johnny ro Johnny ro on Oct 07, 2015

      I got a form letter from Audi USA because I own a 2010 A4 2.0t. I am an extremely likely repeat VAG customer, statistically. I was advised diesels among us would be contacted directly by live feed. Audi USA is blameless in this as far as I can tell. I do not now want any VAG diesel. The reason is EPA requirements, not VAG. Yes please, figuratively speaking, hang, draw and quarter the lying faithless EVPs who signed on this. Heads on spikes along Dieselstrasse, Wolfsburg. Or Porsche Street? Then revisit GM And Ford and others who killed real people, not figuratively. Spare their immediate families, but bar them from B-school. 1.8t Golf beckons. The A4 2.0 Tdi 6mt beckoned formerly.

  • Straight6totheend Straight6totheend on Oct 08, 2015

    Even more potential for new lawsuits. As VW's own legal dept said rushing this guy in is 'playing it pretty close to the chest'. He can't go through the otherwise mandatory 2 year cool-off period that all chairmen of the board have to go through. He's not elected by the shareholders and instead just put in polit-bureau style. General meeting of shareholders also postponed until next year. European and especially American suits are gonna be all over this along with everything else they're all over already. That being said I truly do enjoy seeing this manufacturer of endless heart-and-soulless autocars, the granite vampire squid of the auto industry hit the fan.