Cars in India | Autoportal.com

Volkswagen group chairman Ferdinand Piëch resigns

Volkswagen group chairman Ferdinand Piëch resigns

Snapshot: The resignation of Dr. Piech came after some reports in the media suggested about a scuffle between him and Volkswagen CEO Martin Winterkorn.

- Comments    |    Write Comment

In a rather sudden and shocking news, Dr. Ferdinand Piëch, Volkswagen Group Chairman has resigned effective immediately. Along with Dr. Piech, Ms. Ursula Piech also resigned from all the Supervisory board duties within the Volkswagne group. The resignation of Dr. Piech came after some reports in the media suggested about a scuffle between him and Volkswagen CEO Martin Winterkorn.

A statement issued by the Executive Committee of Volkswagen's Supervisory Board said that the "mutual trust necessary for successful cooperation no longer exists" so Ferdinand and Ursula Piëch have resigned with "immediate effect." The forced resignation was a result of Ferdinand's unsuccessful attempt to enfeeble Winterkorn.

Interestingly, Volkswagen is going to host two major meetings in the coming days, which otherwise was slated to be chaired by Dr. Piech. The Supervisory Board meeting on May 4, 2015 and the Annual General Meeting on May 5, 2015 will now be chaired by Berthold Huber, who is temporarily appointed as the Chairman of the Supervisory Board.  

Not only this, Huber will also be responsible for finding a new candidate for the post of Chairman, which he will do in accordance with representatives of shareholders and employees. Ferdinand Piech played a major role and making Volkswagen an umbrella brand and build projects like the Volkswagen XL1 Sportscar and Phaeton.

Click here to know all about the Volkswagen models in India!

Related car news

  • Volkswagen’s ex CEO Martin Winterkorn investigated over emissions scandal 21-06-2016 Davender Soni Volkswagen’s ex CEO Martin Winterkorn investigated over emis...
  • Matthias Müller Appointed as New CEO of Volkswagen AG 28-09-2015 Matthias Müller Appointed as New CEO of Volkswagen AG
  • VW Group CEO Martin Winterkorn has announced his resignation 24-09-2015 Anurag Busi VW Group CEO Martin Winterkorn has announced his resignation
  • Volkswagen introduces the all-new 2019 Jetta at Detroit Auto Show 16-01-2018 Autoportal Team Volkswagen introduces the all-new 2019 Jetta at Detroit Auto...
  • Kia Motors India Announce Kookhyun Shim as MD & CEO 03-01-2018 Mayank Gupta Kia Motors India Announce Kookhyun Shim as MD & CEO
  • Volkswagen Pune Plant Records Highest Ever Annual Production in CY 2017 02-01-2018 Mayank Gupta Volkswagen Pune Plant Records Highest Ever Annual Production...
Helpline