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VW board meets to settle leadership squabble

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VW board meets to settle leadership squabble

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Volkswagen’s supervisory board is meeting today to resolve a deepening row between its chairman, Ferdinand Piech and chief executive Martin Winterkorn.

Last week, Piech said in a German magazine interview that he had distanced himself from Winterkorn, dampening speculation that Winterkorn’s term would be extended beyond 2016, or that he would succeed Piech as chairman.

Sources say over the past five months during board meetings, Piech has heaped stinging criticism on Winterkorn, especially over the company’s poor sales performance in the United States.