VW Group CEO Martin Winterkorn gained a few key supporters in the leadership conflict between he and chairman Ferdinand Piëch.
The company's six-member supervisory board's leadership committee met with Piëch in his office in Austria last week to declare their support, according to Autoblog, following similar actions made by Wolfgang Porsche, Volkswagen's global works council, and the German state of Lower Saxony. The board also let it be known they may extend Winterkorn's contract beyond 2016 and should Piëch refuse to agree to public support of the CEO they would demand Piëch's resignation.
The leadership battle is linked to a few problems Piëch has had with Winterkorn for some time, particularly VW's ongoing sales woes in the United States. Alongside similar problems in Brazil, overall profits taking a downturn, and competitor BMW grabbing the green-car title among the German automakers, Piëch believes the CEO lacks the vision needed to pull his company into a better place in the industry. For now, though, Piëch is holding to his part of the deal with the board.
[Photo credit: Volkswagen]
The post VW Group Board Supporting Winterkorn In Leadership Conflict appeared first on The Truth About Cars.
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