Date
22 January 2017
Volkswagen has promised to do "everything possible" to win back consumers' trust following the emissions tests rigging scandal. Photo: Reuters
Volkswagen has promised to do "everything possible" to win back consumers' trust following the emissions tests rigging scandal. Photo: Reuters

VW board to meet Oct 7 to appoint Poetsch as chairman: report

Volkswagen’s supervisory board will hold an extraordinary meeting on Wednesday to appoint finance chief Hans Dieter Poetsch as the new head of the 20-member controlling panel, Reuters reported, citing sources.

Apart from appointing Poetsch, the board will discuss the latest findings of VW’s internal probe into the emissions tests cheating scandal that has rocked the German automaker, the report said.

VW admitted last month that it rigged diesel emissions tests in the United States, fueling the biggest crisis in the 78-year-old firm’s history.

At an internal company meeting last week, Poetsch is said to have described the situation as an “existence-threatening crisis for the company” albeit a surmountable one.

Over the weekend, VW took out full pages in some German newspapers to tell consumers: “We will do everything possible to win back your trust.”

A survey by German market research firm Puls showed 41 percent of consumers see the brand as damaged for the long term, while 11 percent say they no longer want to buy a VW.

On Tuesday, VW’s new Chief Executive Matthias Mueller will have his first opportunity to explain to an expected gathering of about 20,000 workers at a closed-door factory event how he aims to steer VW out of the scandal, the report said.

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