Porsche executive urges Volkswagen to speed up reorganisation

Porsche executive Hans Dieter Pötsch has urged Volkswagen’s management to speed up the car group’s reorganisation after worsening results at Volkswagen sharply reduced profits for the Porsche-Piëch family’s investment company.

Measures to strengthen competitiveness, cut costs and improve profitability sustainably “must be implemented quickly”, Pötsch said. Delivering results was now management’s “task and responsibility”.

Pötsch also chairs Volkswagen’s supervisory board, which oversees the group’s executives. His call therefore comes from within the company’s own governance structure: he is pressing the managers responsible for carrying out the changes while leading the body that supervises them.