BREAKING NEWS

Volkswagen boardroom brawl intensifies as chairman and CEO square up

Now Reading:

Volkswagen boardroom brawl intensifies as chairman and CEO square up

Text size Aa Aa

The knives are out in the Volkswagen boardroom after Chief Executive Martin Winterkorn insisted he would fight for his job despite reports that company chairman Ferdinand Piech has ‘distanced’ himself from the CEO.

The chairman’s comments are aimed at undermining Winterkorn’s chances of a contract extension when his current deal ends in December 2016.

Winterkorn believes he still has support after turning Volkswagen from a struggling company with high labour costs into a strong and successful automotive concern.