(Boursier.com) – Ferdinand Piëch, the Chairman of the Supervisory Board of Volkswagen, has resigned, said the German car manufacturer. This resignation is effective immediately. Ferdinand Piëch, who is 78 years old, also waives all other positions within the group. His wife, Ursula Piëch, also gave up his duties as member of the Supervisory Board.
resigns with immediate effect
The Vice-Chairman of the Supervisory Board, Berthold Huberet, also former chairman of IG Metall, will temporarily succeed Ferdinand Piëch. It will provide these functions until the General Meeting of the group to be held on May 5 “Under the chairmanship of Mr. Berthold Huber, representatives of shareholders and employees work closely together to choose a candidate for President of the Supervisory Board,” the statement said.
Internal Divergences
The resignation of Ferdinand Piëch and his wife put in the public square a fire of internal differences between the leaders of the German automotive group. Ferdinand Piëch recently disavowed in the press Martin Winterkorn, the executive director of the European car giant, his former protege. Accused maneuvers behind the scenes to promote his influences, Ferdinand Piëch was eventually dropped by several influential members of the Supervisory Board with his cousin Wolfgang Porsche, staff representatives and the State of Lower Saxony, which is a shareholder.
Takeover Martin Winterkorn?
“The president unilaterally plunged the company into the worst possible turbulence”, Reuters reported citing an employee representative on the Supervisory Board. “He should really think about what it means for him and his situation.” A statement said: “A consensus was reached on the steering committee, so that in the light of what took place this week, the confidence fruitful cooperation was not there.” The play of influences, the balance of power has shifted in favor of Martin Winterkorn, whose term ends in 2016. The leader could therefore succeed himself, with enhanced powers.
Against -Power Piëch-Porsche clan?
The tab of Ferdinand Piëch, who is the grand son of Ferdinand Porsche, the inventor of the iconic Beetle, could still intervene behind the scenes through voting rights 51% of the clan Piëch-Porsche Volkswagen. Ferdinand Piëch occupied the Management Board Chairman of the Second World automaker since 1993.
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