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Volkswagen’s CFO Poetsch Will Probably Be Its Next Chairman

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Volkswagen’s CFO Poetsch Will Probably Be Its Next Chairman

Volkswagen Wolfsburg

Porsche Automobil Holding SE announced Thursday it would propose its CFO Hendes Dieter Poetsch to achieve success Berthold Huber as chairman of Volkswagens supervisory board. The proposal was based on Volkswagen AG.

Huber was hired interim chairman for that German automotive giant after Ferdinand Piech was ousted inside a dustup among leadership.

The announcement only comes a couple of days after Volkswagen stated it extended its hire its current Chief executive officer, Martin Winterkorn, for 2 more many effectively ending his bid to exchange Piech. Winterkorn and Piech openly feuded over VWs direction, eventually resulting in Piechs surprise resignation as chairman in April.

As part of the board of majority shareholder in VWs parent company, Porsche SE, Piech voted alongside all of those other board unanimously to approve Poetsch as suggested chairman.

Hans Dieter Poetsch

Based on Automotive News, Poetsch is really a relative insider for VWs chairman position. As chief financial officer since 2003, Poetsch will be a non-polarizing figure with detailed understanding of Volkswagens day-to-day operations.

Analysts earlier suspected that Winterkorns retention may open the doorway for an outsider to become put into the chairmans seat.

Poetsch was hired CFO at Volkswagen in 2003, after departing German engineering firm Durr AG, based on the automaker. Poetsch began his automotive career at BMW in 1979, working as much as mind of group controlling before he left later.

Poetsch might be fully installed as chairman in November, at Volkswagens next general meeting.

 

 

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