Power struggle at Volkswagen decided: Piëch resigns – The Standard

Ferdinand Piëch, the chairman of the supervisory board of Volkswagen, has lost the power struggle at the largest carmaker in Europe. The 78-year-old Piëch on Saturday, along with his wife Ursula, immediately resigned from all his positions in the vehicle group, according to a statement from Volkswagen.

The resignation comes after two weeks of infighting at the top of Volkswagen. Which began when Piëch himself in an interview with the German weekly Der Spiegel openly questions asked by the leadership of the 67-year-old CEO Martin Winterkorn.

The distancing came as a total surprise, as the duo Piëch-Winterkorn until then was considered a droomduo, which corresponded blindly. Winterkorn was also regarded as the slain dyed successor Piëch as chairman of the supervisory board.

By the statements of Piëch raised questions about the future of Winterkorn, but in the following days it

was especially Piëch himself who pressure was put. Thus spoke the presidency – a core of the supervisory board – a week ago its confidence in Winterkorn, whose contract as planned would be extended. Reportedly stood Piëch in the presidency isolated in his opposition and suffering he so a heavy defeat.

It remains unclear why Piëch took suddenly from Winterkorn, who led nevertheless the group to record levels and caused VW’s largest manufacturer in the world, Toyota, on the heels.

Berthold Huber, the vice chairman of the supervisory board, will temporarily take over the function of Ferdinand Piëch.