Home Business VW Emissions Scandal: Hans Dieter Poetsch Appointed as Board Chairman

VW Emissions Scandal: Hans Dieter Poetsch Appointed as Board Chairman


Hans Dieter Poetsch has been appointed as VW’s new chairman, following a board meeting to discuss the emissions scandal.

Former VW finance chief said it would be “some time” before the carmaker could uncover the details of the emissions test cheating.

Earlier, the automaker said it expected to start a recall of cars affected by the scandal in January 2016.

All affected cars will be fixed by the end of 2016, VW CEO Matthias Muller told German newspaper Frankfurter Allgemeine Zeitung.

Only a few employees have been involved in the scandal, Matthias Muller added in the interview.

In his first pronouncement as chairman, Hans Dieter Poetsch said the company’s internal inquiry into the scandal would take time.

“Nobody is served by speculation or vague, preliminary progress reports,” he said.Hans Dieter Poetsch Appointed as VW Board Chairman

“Therefore it will take some time until we have factual and reliable results and can provide you with comprehensive information,” Hans Dieter Poetsch added, before declining to take any questions.

VW has said emissions test-cheating software is present in 11 million diesel vehicles.

The company said it would also look into its various brands and models, singling out Bugatti, its supercar marque.

Earlier, Mathias Muller told employees at VW’s Wolfsburg home plant in Germany the company is facing changes that “will not be painless”.

All investments that were not deemed absolutely necessary would be abandoned or delayed, he said.

Technical solutions were “within view” and the firm would do everything it could to keep jobs secure, he added.

Future investment in plant, technology and vehicles would be put “under scrutiny”.

“We will do everything to ensure that Volkswagen will stand for good and secure jobs in the future,” he added.

VW has set aside €6.5 billion to cover the cost of the scandal, but analysts say the final bill could be much higher, with potential regulatory fines in the US, class action lawsuits and the cost of fixing the cars.