GERMANY: Piech hints an extended stay at the head of VW
Volkswagen chairman Ferdinand Piech could stay at the head of the company beyond the term he was granted earlier this year.
He told the German newspaper Bild am Sonntag: “A new model of the Golf usually comes out every 5-7 years. At least that long I will cover (Martin) Winterkorn's back as chairman.”
A decision to prolong his tenure would push back long-awaited succession planning. Analysts have been critical of Volkswagen for not bringing forward managers seen capable of leading the 12-brand car group.
In April, shareholders voted 75-year old Piech to act as chairman for a third term which runs until December 2016. Piech is already the oldest-ever chairman of a listed German company.
Piech also served nine years as chief executive officer. He also told the newspaper that he is concerned about the impact of the euro zone crisis on VW.
"We are worried about regions south of the Alps and west of the river Rhine. You'll hardly notice 5% plus or minus in Germany but will notice two thirds less in Spain."
The media day for the Barcelona motor show was 9 May. Our preview list is now republished as an historic record of the vehicles which were global debuts....
Volkswagen Group luxury car unit Bentley is expanding in fast growing eastern Europe with its first dealership in Belarus....
Sales of new cars in Germany, Europe's biggest market, grew 3.8% to 284,400 vehicles last month compared with 273,900 in April 2012. It was the first increase for six months and the biggest since Dece...
Negotiating committees representing Volkswagen AG and the IG Metall trade union have started pay negotiations with a meeting in Hanover, home to the automaker's main commercial vehicles plant....
- Volvo's engine and platform independence progress
- CEO says Citroen wants to be quirky again
- THE WEEK THAT WAS - Connecting cars in Canada
- ANALYSIS: VW's self-defeating defeat devices
- Advanced tech previews from OEMs - PLDB
- Takata manipulated test results back to 2000
- Audi suspends two engineers over US diesel V6
- Volkswagen diesel recall in Europe will take year
- Toyota u-turns on Takata inflators in Japan
- Low-carbon may create 66,000 French jobs - report
- Global light vehicle instrumentation and cockpits market- forecasts to 2030
- Global light vehicle OE shock absorbers market- forecasts to 2030
- Global light vehicle electronic braking market- forecasts to 2030
- Global light vehicle OE mirrors market- forecasts to 2030
- Global light vehicle roof systems market- forecasts to 2030