VW board will take "some time" to find Piech successor: Huber

[HANOVER] Volkswagen's supervisory board will take "some time" to find a successor to Ferdinand Piech who quit as chairman last month following a public showdown with his chief executive, acting board chief Berthold Huber said.

"The supervisory board will address the succession of (former chairman Ferdinand) Piech with the necessary diligence and calm," Huber, VW's interim chairman said on Tuesday at the carmaker's annual shareholder meeting in Hanover, Germany. "This will take some time," said Huber, a former IG Metall trade union boss.

Separately, CEO Martin Winterkorn said VW currently has no M&A projects on its agenda and is "well positioned" with its 12 brands.

REUTERS