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Change at VW?

Posted: Sun Apr 26, 2015 10:29 am
by Rope-Pusher
Piech resigns as VW chairman after failing to oust CEO


FRANKFURT -- Ferdinand Piech, a towering figure at Volkswagen for more than two decades, resigned as chairman of the company on Saturday after losing a showdown with Chief Executive Martin Winterkorn.

Piech, the 78-year-old grandson of the inventor of the Volkswagen Beetle, had previously succeeded in ousting other executives who crossed him, including his hand-picked successor as Volkswagen CEO, Bernd Pischetsrieder.

But this time, he was unexpectedly isolated in a five-to-one vote of Volkswagen's steering committee last week as labor representatives, the state of Lower Saxony and even his own cousin Wolfgang Porsche stood firmly behind Winterkorn. ... eakingnews

After 20 years of leadership, maybe his resignation will open VW's eyes as to what their real issues are with durability and cost of long-term ownership in the North American market.