The Volkswagen (VW) Group's new supervisory board chairman-elect Hans Dieter Poetsch has said it will take time for the company to get to the bottom the diesel emissions situation. According to a Reuters report. The company has found itself under pressure from regulators, governments and shareholders to achieve quick results in its investigation into how the "defeat device" software was integrated into the EA189 powertrain and used to pass emissions tests in the United States. Poetsch said, "Nobody is served by speculation or vague, preliminary progress reports. Therefore it will take some time until we have factual and reliable results and can provide you with comprehensive information."
Significance: Poetsch made the comments after the supervisory board met at the firm's headquarters in Wolfsburg. His appointment as the supervisory board chairman is expected to be confirmed by the German courts after the company cancelled its AGM in order to focus on its investigations into the emissions. VW was scheduled yesterday (7 October) to submit a plan to Germany's KBA federal transport authority to spell out how it will ensure that all its vehicles will comply with local emissions laws. As the supervisory board chairman, Poetsch will clearly play an important role in VW's response to the crisis and it will be a major test of how well the former CFO copes in his newly enhanced position within the company.
