Ferdinand Piech resigns, The German automotive maker same weekday that Piech had resigned as a result of AN atmosphere of trust "no longer exists" at intervals the company's board.
Volkswagen has been handling a amount of turmoil in recent weeks once Piech withdrew his support from CEO Martin Winterkorn. However, Piech unsuccessful in his bid to oust the CEO.
His wife, Ursula Piech, has conjointly resigned from her duties at the corporate.
Piech has long control the reins of the corporate and his resignation signifies the tip of an influence struggle.
A grandchild of Ferdinand Porsche, Piech became chairman and CEO of Volkswagen in 1993 and turned it into a worldwide large by adding different high tier automotive brands into his fold like Lamborghini and Bentley, and revitalizing brands like Bugatti.
Volkswagen bought Porsche in 2012 to more its ambition to become the world's biggest car maker -- simply four years once Porsche created a unsuccessful bid to shop for VW.
While Piech was chairman, Winterkorn, this CEO, has semiconductor diode the corporate since 2007.
Volkswagen quickly named deputy chairman Berthold Huber to the post, till a brand new chairman is elective .
Volkswagen has been handling a amount of turmoil in recent weeks once Piech withdrew his support from CEO Martin Winterkorn. However, Piech unsuccessful in his bid to oust the CEO.
His wife, Ursula Piech, has conjointly resigned from her duties at the corporate.
Piech has long control the reins of the corporate and his resignation signifies the tip of an influence struggle.
A grandchild of Ferdinand Porsche, Piech became chairman and CEO of Volkswagen in 1993 and turned it into a worldwide large by adding different high tier automotive brands into his fold like Lamborghini and Bentley, and revitalizing brands like Bugatti.
Volkswagen bought Porsche in 2012 to more its ambition to become the world's biggest car maker -- simply four years once Porsche created a unsuccessful bid to shop for VW.
While Piech was chairman, Winterkorn, this CEO, has semiconductor diode the corporate since 2007.
Volkswagen quickly named deputy chairman Berthold Huber to the post, till a brand new chairman is elective .
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