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

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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.