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Wednesday 21 February 2018

VW chief Piech resigns after row

Volkswagen is Europe's biggest carmaker
Volkswagen is Europe's biggest carmaker

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.

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.

Press Association

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