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Volkswagen's decision to nominate a long-serving executive as chairman has thrown more scrutiny on its corporate governance and culture, the FT reports...
How is Mr Pötsch supposed to do that?
The scandal clearly also has to do with structural issues at VW . . . There have been warnings about VW's corporate governance for years, but they didn't take it to heart and now you see the result.
Germany has corporate governance problems but VW has long been uniquely awful
VW's supervisory board is short of people with relevant experience and skills and — significantly — independence.
If VW doesn't change now then they will never do it. It really depends on the three big shareholders — whether they are willing to reform.