Volkswagen appoints CFO as chairman amid emissions scandal

Amidst a huge scandal and personnel reshuffling, Volkswagen has a new chairman.

Volkswagen, which is embroiled in the biggest scandal of its history, has elected Chief Financial Officer (CFO) Hans Dieter Poetsch to be the company's next chairman at a board meeting Wednesday, BBC News reports. The company has been without a chairman since the iconoclastic Ferdinand Piech resigned in April

Volkswagen recently admitted to cheating emissions testing in many of its four-cylinder diesel cars. The cars were equipped with a "defeat device" that would allow them to pass emissions testing, by detecting when the car was undergoing emissions testing and turning on all of its emission control systems. On the road, the systems would turn off, improving performance and increasing emissions significantly. Read more...