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VW CFO Hans Dieter Potsch nominated as new board chairman

The search for a successor to Ferdinand Piech has come to an end as the Volkswagen Group has nominated a new chairman. The Executive and Nomination committees of VW's Supervisory Board have put their weight behind one Hans Dieter Potsch, who currently serves on the company's management board as its chief financial officer. He's expected to continue in his current role until November when an extraordinary general meeting of the supervisory board can be called to confirm his nomination and a replacement CFO can be found to take his place. As you may recall, the chairmanship of the Volkswagen board fell until recently to Ferdinand Piech, grandson of Ferdinand Porsche and one of the principals of the Porsche family that holds over 50 percent ownership in Volkswagen through Porsche Automobil Holding SE. Piech went head to head with VW CEO Martin Winterkorn and ultimately lost. Piech resigned and Winterkorn is about to have his term as chief executive extended through the end of 2018. In Piech's place, former union head Berthold Huber was named as interim chairman, but is now referred to in the statement below once again as deputy chairman instead. An Austrian native, Potsch is an industrial engineer by training. He started his career at BMW where he ultimately served as group controller, and subsequently served as CFO and as chairman at a number of German corporations. Potsch joined the VW management board in 2003, initially without portfolio, and soon assumed the financial portfolio – a role he has held until now. In 2009 he took on the additional role of chief financial officer at the Porsche holding company, whose supervisory board representatives are the parties proposing Potsch's nomination as the group's new chairman – even though he is not, strictly speaking, one of their own. In a related development, it appears that Julia Kuhn-Piech will be leaving her board seat sooner than expected. The departing chairman Ferdinand Piech opposed his niece's nomination to the board in his place, and now she'll apparently be stepping down to make way for the family's new choice of chairman.

Porsche 919 Hybrid used 500 gallons of fuel to win Le Mans

After 395 laps and over 3,300 miles covered, Porsche claimed its record seventeenth overall win at the 24 Hours of Le Mans this year. Those, however, were only a few of the numbers that went into the German team's landmark campaign, the fourth one-two victory in the history of its assault on the endurance race. And now it has released some of the other mind-boggling figures behind its win. Over the course of 24 grueling hours of competition, the winning Porsche 919 Hybrid averaged a staggering 139 miles per hour, reaching a top speed of over 211 mph. Along the way, the winning car changed gears over 25,000 times. We can imagine the drivers worked up quite a sweat in a cockpit, whose temperature topped 80 degrees, with less than a quart of water to drink during each stint between pit stops – the longest of which lasted over ten hours. Little wonder that Mark Webber lost over six and a half pounds by the end of the ordeal. Naturally, pit stops played a huge part in the campaign, and the team – whose headcount topped 120 – carried out 90 stops (30 per car) over the course of the race. All told, the three cars went through 116 tires, each car had its oil refilled entirely, and the winning car alone swallowed up 500 gallons of fuel. And that's not even counting the energy recuperated by the electric component of the hybrid powertrain, which would be enough to power a family home for three months. Those are just some of the most notable figures, but they give us a pretty good idea of the enormity of the whole endeavor. Want to read more? There's a whole list of numbers in the press release below. Related Video: The 17th overall victory for Porsche at the Le Mans 24-Hours 395 laps to victory Stuttgart. On Sunday, 14th June 2015, the trio of Earl Bamber (NZ), Nico Hulkenberg (GER) and Nick Tandy (GBR) took the 17th overall victory for Porsche at the Le Mans 24-Hours. They were followed across the line by the sister car of Timo Bernhard (GER), Brendon Hartley (NZ) and Mark Webber (AUS). This made it the fourth one-two result for the brand after achieving this in 1971, 1987 and 1998. But there are more interesting facts and figures about the race. • The winning team completed 395 laps (5,382,82 kilometres). This year's race was only two laps short of the longest distance covered in Le Mans back in 2010. • The average speed of the winning Porsche 919 Hybrid was 224.2 km/h.

Porsche planning Cayman GT4, 700-hp Turbo S e-Hybrids

The old wisdom when it came to the Porsche lineup was that the Boxster and Cayman needed to be kept in line so as not to encroach on even the lower end of the 911 range. But with the latest versions of the compact roadster and coupe, that logic has gone out the window. Especially with the introduction of the latest GTS models (pictured above). But that's not the end of the story. According to Motor Trend, Porsche is working on an even more powerful version of the Cayman that could carry the GT4 badge, positioning itself along the same lines as the 911 GT3 and GT2 – only, you know, smaller. Although our sources at Porsche would, predictably, neither confirm nor deny the report, MT has it that power could come from either a turbo-four or a more powerful flat-six, mated to the beefed-up DCT from the latest 911 GT3. A similar version of the Boxster could bring back the RS Spyder designation. That's not all Porsche is said to have in store, though. Based on the engineering that went into the 918 Spyder, Porsche could roll out a new range-topping model for the 911, Panamera and maybe even the Cayenne, packing a version of the 918's PHEV powertrain. Slotting in above the existing Turbo S variants of each model line, the new flagship models could pack 700 horsepower or more and be designated e-Hybrid in similar fashion as the 918.