Skip to content
Subscriber Only

VW Chairman Poetsch Engulfed in Diesel Crisis as Probe Widens

  • Former CFO named as third suspect in market-manipulation probe
  • VW insider was controversial choice for chairman position
Hans Dieter Poetsch.

Hans Dieter Poetsch.

Photographer: Hannelore Foerster/Bloomberg

Volkswagen AG Chairman Hans Dieter Poetsch has survived internal purges and scandals for more than a decade at the German carmaker. Now his position at the top of the manufacturer is coming under strain as he becomes directly enmeshed in the diesel-emissions scandal for the first time.

German prosecutors said they had enough evidence to name Poetsch as the third suspect in a probe into whether Volkswagen was too slow to inform the market about the cheating. The automaker stood by the executive, who was chief financial officer when the crisis unfolded, saying that management complied with German law and that Poetsch will continue to cooperate with the investigation, while the families controlling Volkswagen said they continue to back Poetsch.