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Latest Volkswagen Passat News
VW Chairman Ferdinand Piëch 'out', Porsche execs 'in' at troubled ... - Autoblog
Posted Jan 21st 2006 7:00PM by Chris PaukertFiled under: TrendsFerdinand Piëch, the brilliant engineer who presided over the triumphant rise and disgraceful Fall of Volkswagen during the past 20 years is to be bumped from his post as Chairman of the Board, effective next year. The move comes as a result of a longtime squabble between the automaker's two largest shareholders, Porsche and Lower Saxony, the German state where VW is headquartered. The chair-shuffling will see Porsche's CEO, Wendelin Wiedeking gain a seat immediately, and the sportscar manufacturer's CFO, Holger Härter will likely find a spot at the table come the board's annual meeting this May.
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