Tuesday 27 September 2016

Volkswagen chief Ferdinand Piech resigns after row

Published 25/04/2015 | 18:27

Ferdinand Piech, chairman of the supervisory board of German carmaker Volkswagen, and his wife Ursula, member of the board of VW, arrive at the annual shareholders meeting in Hanover in this April 25, 2013 file photo. REUTERS/Fabian Bimmer/Files
Ferdinand Piech, chairman of the supervisory board of German carmaker Volkswagen, and his wife Ursula, member of the board of VW, arrive at the annual shareholders meeting in Hanover in this April 25, 2013 file photo. REUTERS/Fabian Bimmer/Files
Ferdinand Piech (C), chairman of the supervisory board of German carmaker Volkswagen, and his wife Ursula, member of the board of VW, arrive at the annual shareholders meeting in Hanover in this May 13, 2014 file photo. REUTERS/Fabian Bimmer/Files
Volkswagen's CEO Martin Winterkorn (C), Ferdinand Piech, chairman of the supervisory board (R), and his wife Ursula, member of the board of VW (L), attend a media preview day at the Frankfurt Motor Show (IAA) in this September 10, 2013 file photo. REUTERS/Kai Pfaffenbach/Files
Ferdinand Piech, chairman of the supervisory board of Volkswagen, is pictured during a welcoming ceremony at the plant of German carmaker Volkswagen in Wolfsburg April 23, 2012. REUTERS/Fabian Bimmer

Volkswagen board chairman Ferdinand Piech has resigned after a rare public clash between him and other board members over the leadership of Europe's biggest carmaker.

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Mr Piech had said in an interview that he was distancing himself from CEO Martin Winterkorn - only to find opposition from other board members who said he had not agreed that stance with them.

A Volkswagen AG statement said that the board's steering committee had met and decided that "the necessary mutual trust necessary for successful cooperation does not exist".

The statement said that deputy board chairman Berthold Huber would serve as interim chairman.

Read more here: Newsmaker: Ferdinand Piech  

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