VW working hard to quickly find Piech successor: CEO
Reuters
Published May 05, 2015 04:17AM ET
Updated May 05, 2015 04:32AM ET
VW working hard to quickly find Piech successor: CEO
HANOVER, Germany (Reuters) - Volkswagen (XETRA:VOWG) aims to quickly find a successor to Ferdinand Piech who quit as chairman week before last, after 13 years in the position, following a damaging public leadership dispute with Chief Executive Martin Winterkorn, the CEO said.
"The executive committee and the supervisory board are working hard to swiftly resolve the remaining issues with regard to the composition of the supervisory bodies in the best possible manner," Winterkorn said at the carmaker's annual shareholder meeting on Tuesday.
Winterkorn, who was backed in the showdown with Piech by VW's works council and stakeholder Lower Saxony, said the group had "clarity" on future strategy despite the turbulences and rushed to thank Piech for his achievements.
"It is good that we have returned to calmer waters," the CEO said. "We can concentrate fully on our business."
Earlier on Tuesday, VW announced the creation of a truck holding to bundle its heavy-duty commercial vehicle brands MAN and Scania.
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Written By: Reuters
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