The Traderszone Network

Published in TZ Latest News 3 October, 2015 by The TZ Newswire Staff

New chairman sees emissions scandal as threat to VW’s viability: paper

Hans Dieter Poetsch, the incoming chairman of Volkswagen (VW)(VOWG_p.DE), sees the scandal around the rigging of emissions tests as a threat to the firm’s viability albeit a surmountable one, a newspaper quoted him as saying. At an internal company meeting this week at the VW headquarters in Wolfsburg, Poetsch described the situation as an “existence-threatening crisis for the company”, Germany’s Welt am Sonntag reported in a release ahead of Sunday’s publication. Poetsch also said that he believed VW could overcome the crisis, the newspaper said.