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Volkswagen CEO survives challenge from powerful chairman

Senior supervisory board members back Martin Winterkorn, propose extending his contract

Published Sun, Apr 19, 2015 · 09:50 PM
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Hamburg

VOLKSWAGEN CEO Martin Winterkorn has survived a challenge from powerful chairman Ferdinand Piech, but their row remains a distraction for the carmaker as it struggles to boost profits and revamp its ailing US business.

Mr Piech, the 78-year-old patriarch of the family that founded Volkswagen, triggered a showdown with Mr Winterkorn last week by criticising him in a magazine article.

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