VW proposes contract extension for CEO Winterkorn

[FRANKFURT] Volkswagen said the Executive Committee on the supervisory board had proposed extending Chief Executive Martin Winterkorn's contract until 2018, throwing its support behind the engineer who survived a power struggle earlier this year.

Mr Winterkorn's contract is due to expire in December 2016.

In April, Mr Winterkorn survived a challenge from Ferdinand Piech, VW's former chairman who has since resigned from his post.

REUTERS