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Volkswagen AG's Chairman Piech May Step Down-Reuters


Friday, 6 Sep 2013 01:28am EDT 

Reuters reported that Volkswagen AG's chairman Ferdinand Piech will likely step down from his post within the next few months, German business newspaper Handelsblatt said. According to internal company plans, Piech's favourite candidate to succeed him is Volkswagen's current chief executive, Martin Winterkorn, whose contract as CEO runs until the end of 2016, Handelsblatt said. A company spokeswoman declined to comment on whether Piech, aged 76, is about to retire but did say Winterkorn is set to remain as chief executive. 

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