New VW chairman not coming soon, so divisions get new heads image

According to the latest information coming from the German automaker, the Volkswagen supervisory board is not in a hurry to make a decision surrounding the successor of former chairman Ferdinand Piech.

According to acting board head Berthold Huber, the world’s second largest automaker and Europe’s biggest will need “some time” to make sure the successor of Ferdinand Piech can be found and is right for the job. Last month Ferdinand Piech, the undisputed leader of the German automaker for about two decades, had to resign from his commission. He triggered a few weeks earlier a leadership crisis when he publicly panned chief executive officer Martin Winterkorn and then secretly tried to push him out of the carmaker to make sure he would not follow him as chairman. But the clash turned against Piech, who lost the support of his family and was ousted from the automaker. “The supervisory board will address the succession of (former chairman Ferdinand) Piech with the necessary diligence and calm,” commented Huber, VW’s interim chairman during the company’s annual shareholder meeting in Hanover,Germany. “This will take some time,” added the official, a former leader of the powerful IG Metall industry union.

Meanwhile, the units of the group are scrambling to fill the power void – Andreas Renschler has been named by truck maker MAN as his new chairman – filling the position previously held by Piech. Renschler is the board member that directs the commercial vehicles division at Volkswagen. The group also recently announced it had decided to merge all of its commercial vehicle brands into a larger group in push to become the biggest truck maker on the European continent.

Via Reuters