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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 to introduce new Boxster Spyder, Macan GTS this year

Dig the new Porsche Cayman GT4 but really wish it came in open-top form? Love the Boxster GTS but wish it had more punch? Well we've got good news for you, friend, as that seems to be precisely what Porsche has in store. Among the new models the Volkswagen Group has lined up for this year will be a new Porsche Boxster Spyder. Although no details were announced along with the name, there are a few elements we can look forward to. The new Boxster Spyder is tipped to be essentially an open-top version of the Cayman GT4, but just how many of the latter's components will make the jump from coupe to convertible remain to be seen. The GT4 packs the 3.8-liter flat six from the 911 Carrera S with 385 horsepower, channeled to the rear wheels through an old-school six-speed manual transmission. It also has carbon-ceramic brakes, revised aero, and a stiffened suspension. The Spyder version of the previous Boxster arrived in 2009 with a modest 14-horsepower boost, a retuned suspension and a good 176 pounds trimmed off its curb weight thanks to the elimination of the motorized soft top, air-con and other components. That's not all Porsche has in store for 2015, though. The German automaker has also confirmed a Macan GTS is in the works that promises to explore the little crossover's performance potential. Projecting just what Porsche will do to Macan to give it the GTS treatment, though, is a little tricky. Sure, the German automaker already offers GTS of the rest of its lineup, but just where that model slots in to each line varies. On the Boxster and Cayman, it slots in between the S and GT4/Spyder. For the 911, it serves as a mid-point between the Carrera S and the GT3. And with the Panamera and Cayenne, the GTS bridges the gap between the S and Turbo models. Considering both the Macan S and Macan Turbo pack twin-turbo V6s, the Macan GTS could serve as a mid-point between the S and Turbo with around 350-360 hp, or (more likely) top the range with upwards of 420 hp. One way or another, though, we can expect upgrades to the suspension, brakes, rolling stock and trim to complete the package. Most of the rest of the announcements made in VW's annual report we either already knew about or are of little interest, but the document also confirms new Lamborghinis on the way, including two new versions of the Aventador (likely to be the new SV coupe we just saw and an SV roadster) and three more of the Huracan as well, including two Spyder versions of the latter.

24 Hours of Le Mans live update part three

We tasked surfing journalist Rory Parker to watch this year's live stream of the 2016 24 Hours of Le Mans. What follows is an experiment to experience the world's greatest endurance race from the perspective of a motorsports novice. Parker lives in Hawaii and has an associates degree in dropping f-bombs. For Part One, click here. Part Two is here. Really hoped I'd be able to grab an hour or two of sleep before the sun rose over Le Mans. Dark dark dark, couldn't figure out what was going on. Commentators struggled at times as well. But I couldn't do it. Endurance racing is just too exciting. Grabs my attention with both fists. Screams, "watch these men DRIVE!" A neighbor invited me over for drinks. Told him, "Can't do it, gotta watch Le Mans!" Maybe not exactly. I'll admit, at times my attention wandered. I did a load of laundry. Ate some snacks. Half listened to the commentary. Threw a hump at my wife. I learned that Patrick Long, driving #88, is big brother to Kevin "Spanky" Long. Spanky's a bit of a legend in the skate world. Always weird how top notch talent can run in families like that. Kind of surprised I've never heard that before. Worked for a skate mag for a years, met Spanky a handful of times. Someone must've told me that he has an older brother who drives race cars. Dash cams at night are scary. High powered headlights in the P1s reach almost 300 meters. Cars outrun that distance easy. Seems like they're just steering into the black and hoping for the best. But that can't be the case. People'd be dropping dead let and right. Very amused by how the guys in GT are like, "Dude, stop flashing your fucking lights before you pass." But the LMP's are all, "Suck a dick! I do what I want." Top three stayed neck and neck nearly all night long. As the sun gets ready to creep back over the horizon the top three are separated by only eleven and a half seconds. Toyota 5 and 6, Porsche 2. Audi 8 is two laps behind Porsche, beleaguered 7 is dealing with constant trouble eleven laps from the front. GTE Pro sees Ferrari 82 in first, Ford 68 and 69 right behind. To win you've gotta drive perfect, build perfect. Fours cars retired so far. I'm beginning to appreciate the endurance aspect a little more fully. Only really considered the drivers at first. The mental and physical stress driving these cars at these speeds at length would inflict. But keeping the damn things running is the real deal. To win you've gotta drive perfect, build perfect.